US TDI markets shifted from a sideways stance to an upturn by late March, driven more by sentiment and geopolitical risk than a supply shock. Early March saw assessed values steady as downstream restocking waned; mid-month sentiment turned constructive and pushed assessments higher toward month-end. Inventories remained in seasonal range and Gulf Coast plants operated with no outages, yet higher aromatics risk and freight and insurance costs fed a risk premium underpinning the rally. Demand was mixed across end-use sectors, creating a bifurcated market: flexible polyurethane foam for mattresses and residential furniture held routine order patterns, while automotive seating demand remained soft; converters largely stayed on formula contracts, muting spot activity. Domestic production covered the bulk of U.S. consumption while imports accounted for a smaller share, and Gulf Coast capacity provided a buffer. Analysts see upside near term, with a lift anticipated, supported by war risk, elevated freight and insurance costs, and panic buying, tempered by inventories and operating rates.
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.
