The US Styrene market remained under strong downward pressure throughout June as weakening demand, ample product availability, and lower feedstock costs continued to weigh on prices. Styrene demand from key downstream sectors, including polystyrene, expandable polystyrene, and ABS resin manufacturing, remained subdued, with buyers limiting procurement to immediate production needs amid weak manufacturing activity. On the supply side, Styrene producers maintained stable operating rates, ensuring sufficient market availability despite sluggish consumption. Lower ethylene and benzene prices, supported by softer crude oil values following the US-Iran peace agreement, reduced production costs and further weakened pricing support across the value chain. Market sentiment remained cautious as buyers delayed purchases in anticipation of further price declines, resulting in thin trading activity throughout the month. Looking ahead, Styrene prices are expected to remain under pressure in the near term, as comfortable supply, weak downstream demand, and limited cost support are likely to continue influencing market fundamentals.
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.
