Ethylene glycol prices stopped falling and rebounded in May 2025. According to data from SunSirs, as of May 28, the average price of domestic oil-based ethylene glycol was 4,521.67 yuan/ton, up 4.39% from the average price of ethylene glycol of 4,331.67 yuan/ton on May 1.

On May 28, 2025, the spot contract of ethylene glycol at the port was traded well, the futures market moved down, and the buying followed up significantly, with a transaction range of 4,440-4,500 yuan/ton. In terms of basis, it was strong first and then weak. The pre-market basis of this week's spot contract in the night market was 145-153. In the morning, the daily trading range of this week's spot contract was +145 to +150; in the afternoon, the daily trading range of this week's spot contract was +135 to +138; after the closing, the basis of this week's contract was +135 to +140, the basis of next week's contract was +135 to +140, the basis of the June contract was +132 to +134, and the basis of the August contract was +75 to +85.

The spot price of domestic coal-based polyester-grade ethylene glycol (bulk water, tax-inclusive, self-pickup) is 4050-4150 yuan/ton.

In terms of foreign ethylene glycol, as of May 28, the landed price of ethylene glycol in China was 525-528 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia was 535 US dollars/ton.

Port inventory slightly decreased 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 26, 2025, the total ethylene glycol inventory in the main port of East China was 612,100 tons, a decrease of 88,800 tons from the total inventory of 700,900 tons on April 28; a decrease of 85,700 tons from the total inventory of 697,800 tons on April 3; and a decrease of 59,800 tons from the total inventory of 671,900 tons on March 31.

Plant dynamics

A 400,000 tons/year synthesis gas to ethylene glycol plant in Shaanxi started and lowered its load for maintenance at the beginning of this week. It is currently operating at half load and is expected to last for about 20 days.

Recent futures fell and spot prices were relatively strong:

1. Downstream operating rate expectations drive futures shorting sentiment

Affected by the news that polyester will continue to reduce production, the speculative market has expectations for further reductions in polyester loads. Coupled with the uncertainty of the tariff policy in the US market, the market began to trade expectations of weak downstream demand.

2. June cargo arrival is expected to be tight, spot market is strong

The visible inventory of ethylene glycol at the port is being reduced, and the arrival of mainstream trade warehouses is relatively small recently. In addition, the recovery of ethylene glycol imports in June is limited, and port inventory is expected to be further reduced. Spot traders are actively taking goods.

Market forecast

Currently, the basis has reached a high level of around 150 again, and the probability of ethylene glycol sideways is expected to increase in the short term. Focus on the support of crude oil cost and changes in downstream operating rates.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.