Ethanol markets ended June with a mixed tone, registering an uptick after a weaker month. Early June was pressured by ample domestic output and softer gasoline blending economics, eroding Ethanol demand and guiding spot levels lower. Mid-June, inventories remained a headwind as supply stayed ample and freight concerns persisted. Late June, and rebound emerged as buyers absorbed declines, though the tone remained bearish on export weakness and soft industrial demand. Seasonal driving provided support consumption, but it did not offset elevated stocks and diminished Ethanol blending incentives. End-use Ethanol demand across sectors remained soft, with blending especially E10/E15 gasoline acting as the primary drag amid softer crude and margins. Industrial and chemical applications, including solvents, also weakened, while export interest was patchy and competition among suppliers increased. Ethanol supply-side dynamics underpinned price softness, as cheaper feedstock reduced production costs but high operating rates kept output elevated stocks rising. The near-term outlook signals continued downside risk unless blending margins improve export inquiries pick up.
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.
