Ethylene glycol prices fluctuated sideways
This week, ethylene glycol fluctuated sideways. As of July 11, the average price of domestic oil-based ethylene glycol increased by 0.19% compared with the average price of ethylene glycol on July 1.
In terms of imported ethylene glycol, the spot contract price of ethylene glycol at the port on July 11, 2025 was strong first and then weak, with a transaction range of 4360-4410 yuan/ton. The intraday basis weakened slightly, and it was strong in the morning and weakened in the afternoon. The intraday basis range of the spot contract next week was +62 to +68. As of the close, the basis of the contract next week was quoted at +64 to +70, the basis of the contract in July was quoted at +65 to +70, and the basis of the contract in August was quoted at +65 to +68.
Port inventory is at a relatively low level in July
From January to mid-February, the port ethylene glycol inventory accumulated significantly, and the port inventory fluctuated sideways from March to April. From May to June 2025, the ethylene glycol destocking in the main ports of East China was obvious, and the current ethylene glycol port inventory is at a relatively low level. As of July 10, the total ethylene glycol inventory in the main ports of East China was 480,600 tons, a decrease of 61,400 tons from the total ethylene glycol inventory of 542,000 tons in the main ports of East China on July 3; a decrease of 220,300 tons from the total inventory of 700,900 tons on April 28; and a decrease of 191,300 tons from the total inventory of 671,900 tons on March 31.
Overview of fundamentals this week
This week, domestic ethylene glycol spot prices were weak first and then strong, with low-level buying in the early stage. Driven by the overall strong sentiment of commodities on Thursday, prices rose, and fell slightly on Friday afternoon. The focus of foreign cargo negotiations has moved up slightly.
Supply and demand: Ethylene glycol is currently in a tight balance, the domestic operating rate is relatively stable, and the number of imported goods arriving at the port is relatively small recently. Port inventory is at a low level, but the feedback effect of the downstream industrial chain remains. At present, the operating rate of looms in Jiangsu and Zhejiang has dropped to below 60%, and the elastic load has dropped to about 60%. The average production and sales of polyester during the week are around 50-60%, and inventory pressure is relatively large.
Cost side: Coal prices have stopped falling and rebounded recently, with a significant upward trend, and the cost side of coal-to-ethylene glycol has received certain support
Market outlook
Pricing in the ethylene glycol market has now returned to fundamental considerations. Affected by the lower operating rate of downstream industries, demand for ethylene glycol is weak. Although the current port inventory is low, foreign ships are expected to arrive in July. From the second half of the month, the arrival of ethylene glycol by foreign ships will increase significantly, mostly concentrated in Taicang. It is expected that the price of ethylene glycol will be weak in the short term.
Post time: Jul-14-2025