China's LNG market turned softer in mid-February as seaborne inflows and robust domestic output outpaced winter demand, triggering a weekly correction. Early January volatility followed the NDRC's storage trim releasing volumes into the spot market, while late-January rallying reflected heavier heating nominations and routine procurement ahead of the national LNG futures launch. By mid-February, absence of fresh institutional directives and steady pipeline deliveries reduced urgency among buyers, shifting sentiment from defensive restocking to opportunistic spot lifting and leaving spot levels under pressure. Demand patterns remained bifurcated: power generation and city-gas/residential heating remained the strongest engines for spot offtake, with northern distributors drawing higher nominations in the face of ample stocks. Industrial gas demand in chemicals and ceramics stayed steady rather than robust, with coal-to-gas switching offering intermittent support. LNG Market participants built physical cover ahead of futures activity. The outlook calls for a mixed near-term with a modest rebound, followed by mild corrections into spring and a pickup into early summer.
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.
