US Mono Ethylene Glycol (MEG) market sentiment shifted in May as softer feedstock pressures and downstream buying prompted re-pricing. Early month activity remained calm, mid-month inquiries from converters stayed muted, and late-month dynamics grew mixed: tighter merchant availability briefly supported sentiment, but a week-on-week correction ended the period. Participants moved from cautious restocking to a defensive stance as spot interest thinned and traders balanced exports with domestic demand. MEG demand was uneven across key end-uses, with the polyester & PET chain remaining the dominant influence. Downstream PET and polyester converters held moderate activity, avoiding aggressive restocking and weighing on spot liquidity. Supply-side factors added nuance: Feedstock Ethylene Oxide and upstream ethylene (spot) softened overall offered limited cost support, compressing upside potential for margins. Upstream energy trends reinforced supplier pricing power, and inventories earlier in the period eased near-term tightness before late-month reemergence. The near-term MEG outlook points to firm to stable conditions, though risks from export flows and restocking remain.
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.
