January 6th News: On January 6, 2026, the spot contract basis for port ethylene glycol (minimum 500 tons) showed a weakening trend intraday. The basis for this week's contract softened intraday, with quotes ranging from -135 to -128. As of now, the basis for this week's contract has dropped to -135 to -130, while the basis for next week's contract has fallen to -125 to -120. The basis for late January contracts is quoted at -114 to -110, for late February contracts at -78 to -74, and for late March contracts at -35 to -34. Chempricehub's analysis of ethylene glycol assigns a long-short score of -1. The article indicates that the spot basis for ethylene glycol continues to weaken, with the basis quotes declining from -135 to -128 to -135 to -130. Additionally, the basis for contracts across all months shows a downward trend (e.g., late January quoted at -114 to -110, late February at -78 to -74), suggesting that spot prices are further weakening relative to futures. This reflects ample market supply or insufficient demand, exerting a generally bearish pressure on spot prices. Combined with ethylene glycol futures data, the main contract 2605 settled at 3,766 yuan/ton on January 5, 2026, down 62 yuan, with open interest increasing by 22,856 lots. This indicates that the futures market is already in a downtrend, with speculative sentiment leaning bearish. The deepening negative basis may further drive down futures prices, reinforcing short-term bearish expectations. Therefore, based on the comprehensive analysis of spot and futures data, a score of generally bearish -1.0 is assigned.