Asian Mineral Turpentine Oil (MTO) prices witnessed a steady trend in November 2025. This is mainly supported by the balanced supply and demand dynamics. Additionally, cost support from the upstream remained insufficient due to the weak global crude oil prices during the month. Due to the global oversupply with looming sanctions against Russia's Lukoil. Also, the market adopted a bearish sentiment following Washington's encouragement for Ukraine to consider a joint US-Russia peace plan to resolve the three-year conflict. EIA reported that the prices for the West Texas Intermediate (WTI) crude oil reached at USD 58.58 per barrel on November 28, from USD 61.75 per barrel on October 31, 2025, indicating a decrease of 5.13% during the period, led to limit the cost pressure in its downstream value chain including MTO. The demand for the MTO also remained moderate due to the limited offtake from the downstream paints and coating sector.
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.
