USA cosmetic-grade white oil prices rose 1.69% in early March as supply and demand pressures intensified. Brent crude surged following Middle East conflict escalation and Strait of Hormuz closure, prompting global suppliers to quote higher prices to US buyers due to elevated petroleum feedstock costs from deep refining processes. Ocean shipment disruptions compounded pressures as carriers implemented war-risk premiums and rerouted vessels around Africa, increasing transit times and freight costs reflected in Drewry's World Container Index gains. US White Oil buyers accelerated procurement for spring production schedules while initiating strategic stockpiling to hedge against further cost escalation. Market participants anticipate continued firmness in CFR Texas quotations as geopolitical uncertainties threaten sustained crude oil and freight premium pressures.
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.
