January 26 News: On January 26, 2026, the basis quotation for spot contracts of port ethylene glycol (polyester-grade, imported, primarily ethylene-based) (minimum 500 tons) remained weak and stable. In the early trading session, the basis quotation for this week's contract (before January 30) was -117 to -113. As of 11:30, the basis quotation for this week's contract was adjusted downward to -130 to -125. The basis quotation for next week's contract (before February 6) was -120 to -117, for late February contracts it was -85 to -82, and for late March contracts it was -32 to -30. Chempricehub's analysis of ethylene glycol, with a long-short rating of -1, indicates that while the spot basis quotation remained weak and stable, the basis for this week's contract was lowered from -117 to -113 to -130 to -125, reflecting a deeper discount. This suggests an oversupply or weak demand in the spot market, exerting downward pressure on spot prices. Combined with recent ethylene glycol futures data (such as the closing price of the main contract 2605 at 3,997 yuan/ton, up 148; and the closing price of contract 2609 at 4,080 yuan/ton, up 161), although futures prices have risen, the weakening basis indicates market expectations of softer spot prices relative to futures. This may limit the upside potential of futures or introduce correction risks, exerting a neutral-to-bearish influence on futures prices. Overall, the rating is generally bearish.