The price of ethylene glycol has slightly fallen
Ethylene glycol prices have loosened this week. According to data from Shengyi Society, as of June 6th, the average price of domestic oil to ethylene glycol was 4498.33 yuan/ton, a decrease of 0.52% from the average price of 4521.67 yuan/ton on June 1st.
In terms of imported ethylene glycol, the focus of the spot contract for ethylene glycol at the port will shift downwards on June 6, 2025, with a trading range of 4375-4440 yuan/ton and a weak stable basis. The basis range for the spot contract next week will be 117-130 yuan/ton. The daily operating range of next week’s spot contract in the morning session is+125 to+130; After the closing, the contract basis quotation for next week will be+118 to+120, the contract basis quotation for June will be+118 to+120, and the contract basis quotation for July will be+100 to+105.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 4000-4120 yuan/ton.
In terms of external ethylene glycol, as of June 2nd, the landed price of ethylene glycol in China is $524/ton, and the landed price of ethylene glycol in Southeast Asia is $530/ton.
The inventory of ports in May has significantly decreased, and there has been a slight rebound this week
From January to mid February, there was a significant accumulation of ethylene glycol inventory in the port, and from March to April, the port inventory fluctuated horizontally. In May 2025, there was a significant destocking of ethylene glycol at the main port in East China, and this week there was a slight increase in ethylene glycol port inventory. As of June 5th, the total inventory of ethylene glycol in the East China main port was 590800 tons, an increase of 30500 tons compared to the total inventory of 560300 tons on June 3rd, and a decrease of 110100 tons compared to the total inventory of 700900 tons on April 28th; Compared to the total inventory of 697800 tons on April 3rd, a decrease of 107000 tons; Compared to the total inventory of 671900 tons on March 31st, it decreased by 81100 tons.
Fundamental Overview
Affected by the news of blocked US ethane exports this week, the ethylene glycol market has risen, but the overall upward sentiment in the market is average. From the perspective of supply and demand, domestic equipment maintenance and restart are carried out in parallel, and the operating rate remains around 60% in the short term. Social inventory is expected to continue its destocking trend. The polyester load is currently around 91%, and the expectation of weak terminal demand remains unchanged, suppressing the upward trend of ethylene glycol prices.
Recent device changes expected: There are plans to restart 1-2 # in Yongcheng, Henan and Zhongsha, Tianjin over the weekend. We will pay attention to the progress of the restart of a major device in Northeast China in mid June.
Future expectations
After the recent cancellation and outflow of warehouse receipts, the circulating spot goods in the market have eased the shortage of spot goods. Recently, the market mainly focuses on the weak expectations of downstream demand and the reality of low inventory. We will pay attention to the production and sales of polyester and the progress of restarting the ethylene glycol plant in the future. It is expected that there is a high probability of short-term sideways fluctuations.