US phenol values strengthened in early March as feedstock shortages, rising energy costs, and Gulf Coast disruptions tightened near-term supply. Sanctions on Iranian benzene, declining imports through the Port of Houston, and a PDH unit outage constrained benzene and cumene availability for phenol production. Storm-related power outages and elevated freight rates further pressured supply chains. Meanwhile, geopolitical tensions around the Strait of Hormuz increased volatility in crude and LNG markets, raising production costs for petrochemicals. With inventories limited and feedstock availability uncertain, the US phenol market sentiment turned firmer as buyers secured supply amid tightening conditions.
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.
