Supply Squeeze and Rise in Spot Purchases Pushes the Global Styrene Market
Supply Squeeze and Rise in Spot Purchases Pushes the Global Styrene Market

Supply Squeeze and Rise in Spot Purchases Pushes the Global Styrene Market

  • 07-Feb-2024 2:52 PM
  • Journalist: Harold Finch

Global Styrene market exhibits the inclining price trend in the global market in the light of brisk spot purchasing activities, improvement in the downstream derivative market and rise in buyer’s interest for the bulk purchases. Tightening supplies, low production rate among the ventures coupled with spiking freight 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.

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