On the 13th, the price of ethylene glycol rebounded

Affected by the news of Israel’s attack on Iran, the price of ethylene glycol rose sharply on the 13th. According to data from Shengyi Society, as of June 13th, the average price of domestic oil to ethylene glycol was 4535 yuan/ton, a daily increase of 1.04%, and a decrease of 0.25% compared to the average price of 4521.67 yuan/ton on June 1st.
In terms of imported ethylene glycol, the spot contract price of ethylene glycol at the port will rise on June 13, 2025, with a trading range of 4420-4470 yuan/ton, and a “V” y basis running. It will remain strong in the morning and weakly stable in the afternoon, and the intraday basis range of next week’s spot contract will be+75 to+87. As of the closing, the contract basis quotation for next week will be+75 to+80, the contract basis quotation for June will be+78 to+80, and the contract basis quotation for July will be+70 to+71.
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 12th, the landed price of ethylene glycol in China is 505-512 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia is 520 US dollars/ton.
In May, there was a significant destocking of port inventory, which is currently fluctuating at a relatively low level
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 currently the inventory of ethylene glycol at the port is relatively low. As of June 12th, the total inventory of ethylene glycol in the East China main port was 563800 tons, a decrease of 12900 tons from the total inventory of 576700 tons on May 29th, and a decrease of 137100 tons from the total inventory of 700900 tons on April 28th; Compared to the total inventory of 671900 tons on March 31st, it decreased by 108100 tons.
Fundamental Overview
Affected by the news of Israel’s attack on Iran on the 13th, international crude oil prices skyrocketed, and the cost support for ethylene glycol strengthened. Coupled with market concerns about the navigation situation in the Strait of Hormuz and the impact of news of blocked US ethane exports, the ethylene glycol market rose upwards.
Supply and demand fundamentals: This week, one line of ethylene glycol enterprises with a production capacity of over 900000 tons per year in Northeast China has restarted operation, while another line is planned to restart. However, the overall supply and demand situation still presents a weak supply-demand pattern, with domestic maintenance and relatively low inventory on the supply side, which supports the price of ethylene glycol. However, it is constrained by downstream polyester production and strong production reduction expectations, which suppresses the price of ethylene glycol.
Future expectations
Affected by strong news coverage, the current market trading logic is shifting towards cost factors. In the short term, the focus is on changes in international crude oil prices. If the environment remains unchanged, the probability of ethylene glycol prices remaining strong increases.