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 21st, the average price of domestic oil to ethylene glycol was 4536.67 yuan/ton, a decrease of 3.10% from the average price of 4681.67 yuan/ton on March 1st.
On March 21, 2025, the basis of the spot contract for ethylene glycol at the port remained stable with an upward trend, and the contract transaction price range for this week was 4425-4440 yuan/ton. In the morning session of March, the contract basis price increased from+29 to+32, and in the afternoon, the price rose to+30 to+34.
In terms of external ethylene glycol, as of March 21, the landed price of ethylene glycol in China is 519-526 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia is 540 US dollars/ton.
Port inventory fluctuated horizontally in March
Port inventory fluctuated horizontally in March. On March 20, 2025, the total inventory of ethylene glycol in the main port of East China was 682300 tons, a decrease of 20500 tons from the total inventory of 702800 tons on March 17; The total inventory on February 27th was 711900 tons, a decrease of 29600 tons.
The downward shift of the cost dominant price center is expected to lead to a bottoming out and rebound in the market
The cost side dominates the price trend in the early stage, coupled with market expectations of insufficient terminal consumption, which may drag down the demand of the polyester industry. The overall market sentiment is weak, and the focus of ethylene glycol prices has shifted downwards.
In terms of domestic supply, the maintenance of domestic ethylene glycol plants will gradually be implemented. On March 19th, Yankuang in Inner Mongolia will shut down for maintenance; In early April, a 1.8 million ton/year synthetic gas to ethylene glycol plant in Shaanxi will be shut down and rotated. The initial profits were good, but some companies delayed their spring inspection plans. With the compression of profits caused by the decline in prices, there is a possibility of a concentrated outbreak of maintenance volume in the future.
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, and the probability of bottoming out and rebounding has increased.
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