The price of ethylene glycol fell in March
The price of ethylene glycol will decrease in March 2025. According to data from Shengyi Society, as of March 26th, the average price of domestic oil to ethylene glycol was 4551.67 yuan/ton, a decrease of 2.29% from the average price of 4681.67 yuan/ton on March 1st.
On March 26, 2025, the basis of Zhangjiagang ethylene glycol spot contract remained basically stable, and the contract transaction price range for this week was 4500-4515 yuan/ton. This week’s spot contract basis price ranges from+36 to+38, next week’s spot contract basis price ranges from+43 to+45, and April’s spot contract basis price ranges from+74 to+75.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 4170-4240 yuan/ton.
In terms of external ethylene glycol, as of March 25th, the landed price of ethylene glycol in China is 525-528 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia is 536 US dollars/ton.
Port inventory fluctuated horizontally in March
From January to mid February, there was a significant accumulation of ethylene glycol inventory in the port, and in March, the port inventory fluctuated horizontally. On March 24, 2025, the total inventory of ethylene glycol in the main port of East China was 627600 tons, a decrease of 43600 tons from the total inventory of 671200 tons on March 3; The total inventory as of December 30, 2024 was 397300 tons, an increase of 230300 tons.
Recent favorable factors
Recently, international crude oil prices have stopped falling and rebounded, with cost drag slowing down. Coupled with the significant decline in ethylene glycol, the downward space has narrowed.
Recent bearish factors
There is news of a production reduction in downstream polyester, with weak terminal demand and doubts about the subsequent consumption demand for ethylene glycol.
Overall, it is expected that the probability of horizontal fluctuations in the future market of ethylene glycol will increase.
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