US formic acid values eased in May after a volatile April driven by feedstock shocks and producer actions. April showed momentum, cooled through mid-month as buyers covered only immediate needs, and April offers moved higher before softness into the May. The April–May lull reflected the gap between winter de-icing demand and the forthcoming Q3 silage pickup, leaving distributors with comfortable inventories and buyers in a wait-and-watch stance. Demand was mixed across end markets. Animal nutrition remained an underpinning; formic acid dominates the organic acids complex, accounting for about half of the market, with poultry applications comprising roughly one-third of usage, according to ChemAnalyst. Winter de-icing demand softened during the shoulder period, while agriculture silage demand is expected to strengthen in Q3. Upstream methanol volatility fed cost-push risk, costs up about a quarter in April. Imports account for roughly 65%, with domestic production around 35%, and container/freight inflation lifting landed costs. Near-term outlook remains range-bound with cautious trading and limited upside.
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.
