During the first half of September, paraxylene markets in the United States and Germany were equally challenged due to the balance of weak demand and steady supply. In the United States, exports slowed as a result of cautious procurement policies and sufficient inventories. Domestic demand for PET Resin Bottle Grade and puri?ed terephthalic acid (PTA) remained flat during the week and was not enough to lift any export momentum from overseas. Steady naphtha values and steady manufacturing activity also supported the excess supply situation. In Germany, rising naphtha values were not an influence on Paraxylene values as demand for PET was weak and PTA buyers continued to rely on pre-arrival inventory to fulfil commitments. Although there were reports of congestion at Hamburg ports, inventories remained high and production was regular, meaning availability did not change. On a positive note, mid-month increases were experienced in both regions as supply levels were better balanced, rather than increasing demand. Overall, paraxylene sentiment remained bearish, as markets continued to wait for downstream demand to improve enough to shift market effects.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
