The global diammonium phosphate (DAP) market entered into an ongoing bearish state in the last week of October 2025, as major global producers from China, Morocco, India, and Saudi Arabia are also seeing downward pressure on pricing. China's decision to cancel exports has only pushed supplies to its domestic market, putting up inventories and a negative effect on global sentiment. Morocco's OCP is still trying to push sales into the global marketplace, but some weaker bids and logistical delays remain. In India, high inventories, poor production, and policy uncertainties reduced the number of new imports. In Saudi Arabia, Ma'aden has been able to maintain some export flows, along with limited demand. All regions continue to also deal with freight volatility, weather impacts, and a softer offtake from agricultural markets. The weather impacts coupled with over supply and weak consumption options is expected to contribute downward pressure to the DAP market into November, as the industry waits for a clearer policy and subsidy signals for improvement.
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.
