India's Mineral Turpentine Oil (MTO) prices displayed a firm upward trend during May 2026, supported by strong seasonal demand, tightening spot availability, and favorable market sentiment. A key factor driving the increase was Bharat Petroleum Corporation Limited's decision to raise domestic MTO prices at the beginning of the month, which encouraged suppliers and traders to maintain higher offers across the market. Demand remained robust from paint and coatings manufacturers, industrial solvent producers, thinner manufacturers, and agrochemical formulators, as buyers actively secured inventories ahead of the monsoon season. At the same time, logistical disruptions and congestion at major ports restricted the movement of cargoes, reducing prompt material availability and strengthening seller bargaining power. Rising upstream energy costs further added pressure to replacement values, supporting the bullish market environment. Looking ahead, market participants expect some seasonal moderation during the monsoon period; however, post-monsoon restocking and improving industrial activity are anticipated to support MTO demand and market sentiment in the coming months.
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.
