On January 9, 2026, Shaanxi Coal Group Yulin Chemical Co., Ltd. auctioned 1,530 tons of polyester-grade ethylene glycol (produced from syngas) in the morning (bidding time: 10:10–10:20). The starting lot size was 34 tons, with delivery at the Shaanxi Coal Group Yulin Chemical Co., Ltd. plant site. The pick-up period was 7 days, and the starting price was 3,250 yuan/ton, including tax and self-pickup ex-factory. Traders quoted 3,300 yuan/ton, with actual transactions subject to negotiation. PriceSeek analysis of ethylene glycol, with a bullish-bearish score of -1.5: The article indicates that Shaanxi Coal Group’s auction starting price for polyester-grade ethylene glycol was only 3,250 yuan/ton, and traders quoted 3,300 yuan/ton, both below current market levels. This suggests an increase in spot supply (auction volume of 1,530 tons) and weak demand, with actual transactions mainly negotiated, exerting significant downward pressure on spot prices. Combined with futures data, the main ethylene glycol contracts (e.g., 2609 closing price: 3,960 yuan/ton, settlement price: 3,943 yuan/ton, change: -8; 2605 closing price: 3,866 yuan/ton, settlement price: 3,849 yuan/ton, change: -12) generally declined, and changes in open interest indicate heightened bearish sentiment in the market. The auction event may exacerbate concerns about oversupply and reinforce the downward trend in futures prices. A score of -1.5 reflects a moderate to significant bearish impact.