On January 16, 2026, the spot contract (minimum 500 tons) for port-based ethylene glycol (polyester-grade, imported, primarily ethylene-based) showed a strengthening intraday basis. The basis for this week's contract was quoted at -137 to -135 in early trading, while the basis for late-January contracts rose to -132 to -130. The basis for late-February contracts was quoted at -90 to -85, and for late-March contracts at -42 to -35.

PriceSeek's analysis of ethylene glycol indicates a bullish-bearish score of 1. The article highlights that the spot basis for port-based ethylene glycol has strengthened, with this week's contract basis quoted at -137 to -135, late-January contracts rising to -132 to -130, late-February contracts at -90 to -85, and late-March contracts at -42 to -35. This suggests a narrowing of the absolute basis, indicating that spot prices have risen relative to futures prices. This reflects tight supply or increased demand in the spot market, which is favorable for upward movement in spot prices.

Combined with ethylene glycol futures data from the Dalian Commodity Exchange, such as the settlement price of the 2605 contract at 3,838 yuan per ton (a daily decline of 22 yuan), the strengthening basis amid a downward trend in futures prices may intensify pressure on futures. However, overall, this reinforces bullish expectations for the spot market and provides support for spot prices.