January 23 News: On January 23, 2026, a summary of merchant quotations (including tax, full truckload, factory pickup) for polyester-grade ethylene glycol (synthesis gas-based): Yulin Chemical polyester-grade 3,250 yuan/ton, 3,270 yuan/ton (next month); Shenhua polyester-grade 3,290 yuan/ton; Sinochem polyester-grade starting bid 3,350 yuan/ton (delivery period 5 days), merchant external quotation 3,415 yuan/ton; Ningxia polyester-grade starting bid 3,100 yuan/ton (delivery period 7 days); Yanchang polyester-grade starting bid 3,150 yuan/ton (delivery period 5 days); Shouyang polyester-grade starting bid 3,320 yuan/ton, merchant external quotation: winning bid price + 30 yuan/ton for actual order procurement, contactable at: 18667002095 (same number for WeChat). Chempricehub analysis of ethylene glycol, long-short score: -1. The article shows that on January 23, 2026, spot quotations for polyester-grade ethylene glycol (synthesis gas-based) are concentrated in the range of 3,100–3,415 yuan/ton, such as Yulin Chemical at 3,250 yuan/ton, Shenhua at 3,290 yuan/ton, and Sinochem at 3,415 yuan/ton, with starting bids generally low (e.g., Ningxia starting bid at 3,100 yuan/ton). This reflects ample supply or weak demand in the spot market, exerting general bearish pressure on spot prices. Combined with ethylene glycol futures data (Dalian Commodity Exchange, main contract 2605 closing at 3,847 yuan/ton, up 90 yuan), spot quotations are significantly lower than futures prices (a spread of approximately 400–800 points), indicating that weak spot fundamentals may limit the upside potential of futures, exerting a slight bearish influence on futures prices. The score is -1.0 (generally bearish), as low quotations and weak starting bids highlight the risk of oversupply in the market.