January 12 — According to market rumors, one series of a 400,000-ton-per-year syngas-to-ethylene glycol plant in Inner Mongolia, which had been shut down for maintenance in mid-December, has resumed production and started discharging products, leading to an overall increase in the plant's operating load. Chempricehub's analysis of ethylene glycol shows a bearish score of -1. The report indicates that the restart of one series at the 400,000-ton-per-year syngas-to-ethylene glycol plant in Inner Mongolia has boosted overall production capacity, directly increasing the supply of ethylene glycol in the market. The expectation of increased supply is likely to exert downward pressure on spot prices, potentially leading to a decline. Combined with futures market data, the main ethylene glycol contract, such as EG2605 (data from January 9, 2026: opening price 3,858 yuan/ton, closing price 3,866 yuan/ton, change -12 yuan, trading volume 212,893 lots, open interest 299,795 lots, change in open interest -5,320 lots), shows a price decline and a reduction in open interest, indicating heightened bearish sentiment in the market and increased downside risk for futures prices. The overall score is -1.0, representing a generally bearish outlook, as the supply increase is a clear factor, but no significant changes in demand have been observed.