Ethylene glycol prices fell in March
The price of ethylene glycol fell in March 2025. As of March 31, the average price of domestic oil-based ethylene glycol fell by 3.42% compared with the average price of ethylene glycol on March 1.
On March 31, 2025, the Zhangjiagang ethylene glycol spot contract basis was relatively high, and the contract transaction price range this week was 4470-4504 yuan/ton (excluding collective transactions). This week’s spot contract basis was quoted at +42 to +46, next week’s spot contract basis was quoted at +51 to +53, and the April spot contract basis was quoted at +65 to +67.
For foreign ethylene glycol, as of March 31, the landed price of ethylene glycol in China was US$524-528/ton, and the landed price of ethylene glycol in Southeast Asia was US$536/ton.
Port inventory fluctuated sideways in March
From January to mid-February, the accumulation of ethylene glycol inventory at ports was obvious, and the port inventory fluctuated sideways in March. On March 27, 2025, the total inventory of ethylene glycol at the main ports in East China was 680,000 tons, an increase of 8,800 tons from the total inventory of 671,200 tons on March 3; an increase of 282,700 tons from the total inventory of 397,300 tons on December 30, 2024.
The main reasons for the weak downward trend of ethylene glycol in March are as follows:
1. In March, due to the downward trend in raw material prices, the coal chemical industry, with the support of profits, failed to meet expectations in spring inspections and some maintenance was delayed.
2. The estimated arrival volume at the port in March was around 650,000 tons, and the import supply was also relatively sufficient.
3. With the high start-up of downstream polyester, the demand increase was limited, and the terminal expectations were weak, which formed a negative feedback on the expectations of raw material ethylene glycol.
The main reasons why ethylene glycol prices are expected to rebound in April are as follows:
1. Recently, international crude oil has stopped falling and rebounded, and the cost drag has slowed down. In addition, the current decline in ethylene glycol is large, and the downward space is narrowing.
2. The planned maintenance volume of spring inspections has increased since April, and the domestic supply of ethylene glycol is expected to weaken.
Post time: Apr-01-2025