In early September 2025, Mono Ethylene Glycol (MEG) prices in the U.S. Gulf rose due to tight supply and a modest recovery in domestic demand. The announcement of tariffs on downstream PET and rPET imports lifted market sentiment, encouraging slight procurement despite weak fundamentals. A planned shutdown at Formosa’s Point Comfort facility and ongoing logistical bottlenecks at key ports and rail hubs added upward pressure on MEG prices. Meanwhile, feedstock cost support remained negligible as ethylene oxide prices declined. Downstream PET demand stayed soft, but full tariff imposition on imports may support MEG consumption moving forward amid fragile market conditions and limited signs of recovery.
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.
