On January 6, 2026, the spot contract for ethylene glycol at the port (minimum 500 tons) showed a weak intraday basis spread. The basis spread for this week's contract softened intraday, with quotes ranging from -135 to -128. As of now, the basis spread for this week's contract has dropped to -135 to -130, while the basis spread for next week's contract has declined to -125 to -120. The basis spread for the late-January contract is quoted at -114 to -110, for the late-February contract at -78 to -74, and for the late-March contract at -35 to -34.

PriceSeek's analysis of ethylene glycol assigns a long-short score of -1. The article indicates that the spot basis spread for ethylene glycol continues to weaken, with the basis spread quotes dropping from -135 to -128 to -135 to -130. Additionally, the basis spreads for contracts across all months are trending downward (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 per ton on January 5, 2026, down by 62 yuan, while open interest increased by 22,856 lots. This indicates that the futures market is already in a downtrend, with speculative sentiment leaning bearish. The deepening of the negative basis spread may further drive down futures prices, reinforcing short-term bearish expectations. Therefore, based on the integration of spot and futures data, a score of generally bearish -1.0 is assigned.