On January 7, 2026, the spot basis for port monoethylene glycol (MEG) contracts (minimum 500 tons) showed a weak trend intraday. The basis for this week's contract softened intraday, with quotes ranging from -140 to -138. As of now, the basis for this week's contract has dropped to -147 to -140, while the basis for next week's contract has fallen to -134 to -132. The basis for late-January contracts is quoted at -125 to -123, for late-February contracts at -80 to -78, and for late-March contracts at -37 to -36. PriceSeek Analysis on Monoethylene Glycol (MEG): Bull-Bear Score: -1.5 The article indicates that on January 7, 2026, the spot basis for port MEG showed a weak trend. The basis for this week's contract declined from -140 to -138 to -147 to -140, while the basis for next week's and forward-month contracts also generally weakened (e.g., late-January to -125 to -123, late-February to -80 to -78, late-March to -37 to -36). This suggests that spot prices continue to weaken relative to futures prices. The widening negative basis reflects increasing pressure from oversupply or weak demand in the spot market, posing significant bearish pressure on MEG spot prices. Combined with the latest MEG futures data (e.g., the main contract 2605 closing at 3,838 yuan/ton, up 30 yuan from the previous day), the widening basis may stem from spot market weakness rather than futures market strength. If spot market pressure persists, it could limit the upside potential for futures prices. Overall, market sentiment appears bearish, with a score of -1.5 indicating a relatively strong bearish impact.