China's DPGME Market Dropped 2.7% in October due to weak demand stagnation in downstream markets, decreasing feedstock prices, and abundant supply led to the decline of China DPGME market in October. Paints and coatings had to cope with the post-Golden Week and the winter shutdown in construction and retail buyers scratched their way through their inventories. Epoxy resin demand also weakened, and traders withdrew their prices. Exports continued to be weak after 20-30% U.S. tariffs were suspended, favoring small volumes. Producers stood their ground on prices as propyl oxide prices plunged over double digits, allowing for discounts in spite of the elevated inventories. Meanwhile, port congestion reached its peak (10+ days wait in Ningbo, Shanghai, Qingdao) under the influence of typhoon backlogs together with geopolitics and U.S. vessel surcharges, but minimal demand balanced out the support from prices. ChemAnalysts expects the softness to continue into November with no pre-winter restocking, indicating further price tests towards lower supports.
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.
