This week, the ethylene glycol (EG) market extended its downward trend, with the mainstream spot price closing at 3,581 CNY/MT on Wednesday. This marks a 3.26% weekly drop (121 CNY/MT lower than the previous week’s average), hitting a new yearly low.
The market opened with a gap down and fell for three consecutive trading days, consistently trading below the 10-day moving average, which confirms a bearish momentum. On the supply side, domestic operating rates remain depressed at 60.09% due to poor profitability, though upcoming restarts—such as the 500,000-tonne Sinopec Quanzhou plant—and stable operation of the new 800,000-tonne BASF Zhanjiang facility are expected to add further supply pressure.
Buyers may find favorable entry points amid the weak trend, but should monitor for any shifts in downstream demand or supply adjustments.