January 12 News: On January 12, 2026, the spot contract basis for port monoethylene glycol (polyester grade, imported, primarily ethylene-based, minimum 500 tons) weakened intraday. The basis for this week's contract softened and declined intraday, with quotes ranging from -157 to -147. As of now, the basis for this week's contract has dropped to -157 to -154, the late-January contract basis has fallen to -145 to -142, the late-February contract basis is quoted at -95 to -92, and the late-March contract basis is quoted at -47 to -44.
Chempricehub's analysis of monoethylene glycol, with a long-short rating of -1: The spot basis for monoethylene glycol continues to decline. This week's contract quotes have dropped from -157 to -147 to -157 to -154, the late-January contract has fallen to -145 to -142, and the late-February and late-March contracts are quoted at -95 to -92 and -47 to -44, respectively. This indicates that spot prices are weakening relative to futures prices, reflecting an oversupply of port spot cargoes or weak polyester demand, exerting downward pressure on monoethylene glycol spot prices.
Combined with monoethylene glycol futures data (e.g., the settlement price for the 2605 contract is 3,849 yuan/ton, with a change in open interest of -5,320), the deepening basis reinforces bearish signals for the spot market. For futures prices, the narrowing of the forward basis (e.g., the late-March contract at -47 to -44) suggests market expectations of improved supply and demand in the future. However, short-term spot weakness may drag down futures performance, with an overall bearish impact.
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