Toluene prices in the U.S. rose sharply through March due to tightening supply driven by upstream and logistical disruptions. Strong increases in crude oil and naphtha costs elevated production expenses and squeezed refinery margins, reducing merchant availability. Additional pressure came from inventory builds, trade restrictions, and delays in catalyst imports, which constrained refinery run rates. On the demand side, steady consumption from solvents and coatings combined with stronger pull from the polyurethane chain, particularly TDI, supported market strength. Buyers became more active in securing supply amid limited availability. Overall, supply-side constraints and firm downstream demand kept the market upwardly pressured.
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.
