US formaldehyde prices are expected to weaken further into June 2026, following a sharp mid May correction driven by soft resin demand, rising Gulf Coast inventories, and easing methanol feedstock costs. Prices fell in the week ending May 24, a 7.51% WoW drop, as composite wood, plywood, and adhesive manufacturers deferred purchases amid softer construction and furniture demand. Methanol’s decline from $600/MT to $540/MT removed cost support, prompting producers to trim offers and manage inventories defensively. With no major outages and operating rates in Texas and Louisiana still elevated, oversupply remains the dominant theme. April’s earlier firmness in FOB Texas was short lived, supported only temporarily by methanol spikes and post maintenance stability. With seasonal summer lulls approaching and limited import alternatives, June pricing is expected to remain under pressure unless resin demand unexpectedly rebounds.
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.
