SunSirs: Ethylene Glycol Prices Were Weaker on September 16

Price trend

Ethylene glycol prices softened in September. According to data from SunSirs, as of September 16, the average price of domestic oil-based ethylene glycol was 4,458.33 RMB/ton, down 0.59% from the average price of 4,485 RMB/ton on September 1.

Regarding ethylene glycol at ports, the basis for the September 16, 2025, port-based ethylene glycol spot contract was weak, with intraday basis trading ranges of +84 to +95 RMB/ton,for this week's contracts. Before the market close, the basis for this week's contracts was quoted at +84 to +86 RMB/ton,, with the September contract at +85 to +87 RMB/ton,, and the October contract at +72 to +73 RMB/ton,. After the market close, for contracts with low bids, the bid external basis was quoted at +83 to +84 RMB/ton,, while for contracts with high bids, the bid external basis was quoted at +78 RMB/ton,. The bid external basis for call transactions was quoted at +85 RMB/ton,.

Domestic coal-based polyester-grade ethylene glycol spot prices (bulk, tax included, self-delivered) range from 4,000 to 4,140 RMB/ton per truckload.

As of September 15th, recent negotiated cargoes of ethylene glycol were traded at around $516/ton.

Fundamentals Overview

This week, a total of 94,000 tons of ethylene glycol was scheduled to arrive at ports in East China, including 11,000 tons at Ningbo Port, 42,000 tons at Zhangjiagang Port, and 41,000 tons at Taicang Port. With plant operations in the Middle East and Singapore recently resuming, port arrivals have recently resumed, and port inventories of ethylene glycol are expected to rebound.

With the holiday approaching, pre-holiday stocking demand was strong, prompting downstream polyester plants to restock at low levels. However, the expected commissioning of new plants is expected to suppress ethylene glycol prices. Yulong Petrochemical's 900,000 ton/year ethylene glycol plant is reportedly scheduled for commissioning around the end of this month. Shenhua Yulin's 400,000 ton/year and Xinjiang Tianye's 600,000 ton/year plants were undergoing maintenance, and coal chemical production is rebounding. In overseas markets, Saudi Arabia's 450,000 ton/year plant was operating, Singapore's 900,000 ton/year plant was shut down, and in Iran, FARSA's 400,000 ton/year plant will soon restart.

Future outlook:

The rebound in port inventories, coupled with news of new plant commissioning, has suppressed ethylene glycol prices. Recently, with the boost of pre holiday inventory replenishment demand, the downward space for ethylene glycol prices is expected to narrow.

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