Founder Futures: With Supply Expectations Declining, Ethylene Glycol Futures Maintain Strong Momentum

K-LinePoet · 2026-03-25T14:56:42+00:00

East China ethylene glycol prices rose to 5,509 yuan/ton, with domestic ethylene glycol operating rates declining slightly and supply tightening further, with import volumes expected to decrease. Downstream demand recovery is anticipated, with inventory destocking of 550,000 tons expected in March-May. The Middle East situation may impact energy supplies, and ethylene glycol futures prices are expected to maintain strength in the near term. Attention should be paid to equipment utilization rates and cost changes.

K-LinePoet

2026-03-25 14:56:42

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Spot market, East China ethylene glycol price is 5509 RMB/ton self-pickup, up 429 RMB/ton compared to the previous trading day.
In terms of supply, last week’s domestic ethylene glycol total load decreased by 0.3 percentage points week-on-week, with coal-based ethylene glycol load down by 2.3 percentage points. Several coal-based ethylene glycol units are scheduled for shutdown or reduced operation. Overseas, some Iranian units have halted or suspended exports, while Saudi units maintain low operating rates. Ethylene glycol imports in March are expected to decline significantly.
On the demand side, downstream polyester load and terminal weaving operations are gradually recovering. It is estimated that from March to May, ethylene glycol will be de-stocked by a total of 550,000 tons.
In summary, maintenance of domestic and international units is ongoing, supply is tightening, import expectations are decreasing, and ethylene glycol will continue to de-stock from March to May. Additionally, the escalation of geopolitical tensions in the Middle East may lead to further tightening of energy supplies, which could amplify refinery production cuts. Short-term ethylene glycol futures are expected to remain strong, with attention to changes in domestic and international plant operations and cost fluctuations. (First Capital Futures)

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