The Electrical Steel prices in the USA continued to soften heading into early June, extending the downward tone that developed through May. Mid month firmness faded as competitive import offers encouraged buyers to delay commitments, while producers lowered offers to manage sizable inventories. Demand tied to infrastructure, particularly transformer applications, remained steady but was not strong enough to counter weaker spot activity. Broader downstream sectors limited purchases to immediate requirements, reinforcing a cautious environment. Supply conditions stayed loose, supported by stable feedstock costs, smooth logistics and growing import competition. Weekly movement reflected mild fluctuations before a sharper early June decline. Overall, Electrical Steel sentiment remains pressured, with ample availability and selective buying shaping a near term outlook that still leans lower for Electrical Steel.
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.
