US Mono Ethylene Glycol (MEG) prices rose sharply through March, supported by constrained global supply, rising upstream costs, and firm PET demand. Early buying absorbed limited cargoes, while tightening MEG availability, logistical disruptions, and seasonal demand peaks intensified overall market pressure. A sustained 12-week bullish trend and thin spot liquidity kept sentiment strong, with buyers actively competing for limited volumes. Upstream drivers, including a surge in crude oil and Ethylene Oxide prices, along with production cuts and maintenance shutdowns, further tightened supply conditions. Additional pressure came from Middle East disruptions and restricted trade flows through key shipping routes. Weekly price gains reflected a steady upward momentum into early April, reinforcing the bullish outlook. Looking ahead, MEG prices are expected to remain firm, supported by ongoing supply constraints, elevated logistics costs, and planned price hikes by key producers, while demand from the PET sector continues to underpin the market fundamentals.
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.
