US MTBE prices at FOB Gulf Coast fell 3.2% in mid-May 2026 as crude oil corrected toward the EIA's projected $106/barrel May-June average on US-Iran diplomatic progress and Hormuz resumption expectations, while ethanol blending waivers reduced downstream MTBE procurement urgency. With disrupted Middle East production peaking at 10.8 mb/d in May before gradual restoration from June onward, prices are anticipated to remain modestly under downward pressure near term, stabilising into June as Hormuz traffic resumes. A sustained recovery is expected only in late Q3 2026 as global supply patterns progressively normalise.
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.
