The Chinese and German sodium benzoate market slowed down in September, with subdued downstream demand and balanced supply driving it. Demand for consumption in the food preservation, beverage, and personal care sectors remained soft, in sync with risk-averse consumption demand and decreased overall industrial output. In China, the high stock and stable production supported a steady export flow, and German consumers only made cautious purchases as the stock was still high. Softening feedstock prices and stable energy markets also resisted production pressure, further adding to overall bearishness in market sentiment. Asia-Europe freight levels stayed supportive, enabling Chinese exporters to secure competitive premiums despite declining demand elsewhere in the world. The sodium benzoate market should be rangebound within the next quarter, with modest upside until seasonal demand picks up. At the same time, stable supply, soft demand, and declining input costs characterize sodium benzoate's short-term profile in both markets.
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.
