The price of ethylene glycol fell in March
The price of ethylene glycol will decrease in April 2025. According to data from Shengyi Society, as of April 18th, the average price of domestic oil to ethylene glycol was 4353.13 yuan/ton, a decrease of 4.78% from the average price of 4571.67 yuan/ton on April 1st.
On April 18, 2025, Zhangjiagang ethylene glycol spot contracts were mainly purchased at low hanging prices, with average trading. This week’s contract transaction price range is 4146-4185 yuan/ton (excluding collective transactions). This week’s spot contract basis quotation is+51 to+55, April’s spot contract basis quotation is+60 to+65, and May’s spot contract basis quotation is+68 to+75.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 3960-4100 yuan/ton.
In terms of external ethylene glycol, as of April 17th, the landed price of ethylene glycol in China was 481 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia was 510 US dollars/ton. The price of external ethylene glycol has dropped significantly compared to the beginning of the month.
Port inventory fluctuated horizontally in April
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. On April 17, 2025, the total inventory of ethylene glycol in the main port of East China was 706700 tons, an increase of 34800 tons compared to the total inventory of 671900 tons on March 31; The total inventory as of December 30, 2024 was 397300 tons, an increase of 309400 tons.
The main reasons for the weak downward trend of ethylene glycol in April are as follows:
1. The cost side has significantly decreased. Both coal to ethylene glycol and petroleum to ethylene glycol have experienced significant declines in the prices of raw materials such as coal and crude oil. The benefits of oil to ethylene glycol have improved significantly, but the cost support is no longer available.
2. On the demand side, under the high production of downstream polyester, the demand increase is limited, and the terminal expectations are weak, resulting in negative feedback on the expected raw material ethylene glycol. With the passage of time, negative feedback may become increasingly apparent, especially for downstream filament after the 90 day exemption period. With the expectation of questionable overseas orders and weak domestic orders, downstream polyester production rates may actually decline.
From March to April, due to the decline in raw material prices, coal to ethylene glycol production was boosted by profits, resulting in unexpected spring inspections and delayed maintenance of some parts. The parking and landing of domestic facilities did not meet expectations.
In April, the port arrival volume was relatively large, and the import supply was also sufficient. Overseas ethylene glycol prices fell significantly due to international crude oil factors.
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