Ethylene glycol prices stopped falling in May and rebounded
In May 2025, the price of ethylene glycol stopped falling and rebounded. As of May 30, the average price of domestic oil-based ethylene glycol increased by 4.39% compared with the average price of ethylene glycol on May 1.
In terms of imported ethylene glycol, the spot contract of ethylene glycol at the port on May 30, 2025 was traded well, with a firm basis and a transaction range of 4460-4520 yuan/ton. In terms of basis, the daily trading range of this week’s spot contract was +150 to +155 in the early trading of the day; after the closing, the basis of this week’s contract was quoted at +148 to +152, the basis of next week’s contract was quoted at +147 to +150, the basis of the contract in June was quoted at +146 to +149, the basis of the contract in July was quoted at +112 to +117, and the basis of the contract in August was quoted at +80 to +85.
The spot price of domestic coal-based polyester-grade ethylene glycol (bulk water, tax-inclusive, self-pickup) is 4050-4150 yuan/ton.
As for the overseas ethylene glycol, as of May 29, the landed price of ethylene glycol in China was US$522/ton, and the landed price of ethylene glycol in Southeast Asia was US$535/ton.
Port inventory destocking was obvious in May
From January to mid-February, the port ethylene glycol inventory accumulated significantly, and the port inventory fluctuated sideways from March to May. On May 29, 2025, the total ethylene glycol inventory in the main ports of East China was 576,700 tons, a decrease of 124,200 tons from the total inventory of 700,900 tons on April 28; a decrease of 121,100 tons from the total inventory of 697,800 tons on April 3; and a decrease of 95,200 tons from the total inventory of 671,900 tons on March 31.
Ethylene glycol prices are expected to fluctuate and run strong in June
Ethylene glycol prices are expected to fluctuate and run strong in June. There is some support below in the short term, but the upward space is also limited. The supply and demand pattern of ethylene glycol in June may maintain a tight balance or slightly loose.
Supply side: There is an expectation of supply increase but the extent is limited. On the one hand, Fujian Refining has restarted, Zhejiang Petrochemical’s 800,000-ton unit is planned to start up, coal-to-chemical units such as Shaanxi Coal and Weihua have gradually discharged materials, Inner Mongolia Tongliao Jinmei and others have also restarted, and overseas Malaysian Petroleum plans to restart its units, and the supply is expected to increase. But on the other hand, in May and June, large ethylene glycol units such as Hengli Petrochemical and Satellite Petrochemical were overhauled, and Shenghong Refining and Chemical’s large units were operated at reduced load, so the growth of the supply side was limited to a certain extent.
Post time: Jun-03-2025