January 9, 2026 – Shaanxi Coal Group Yulin Chemical Co., Ltd. held an auction for polyester-grade ethylene glycol (produced from syngas) on the morning of January 9, 2026 (bidding time: 10:10–10:20). The auction volume was 1,530 tons, with a starting bid volume of 34 tons. The delivery address was at the plant site of Shaanxi Coal Group Yulin Chemical Co., Ltd., with a 7-day pickup period. The starting bid price was 3,250 yuan/ton, including tax and self-pickup from the factory. Traders quoted 3,300 yuan/ton externally, with actual orders subject to negotiation. Chempricehub Analysis of Ethylene Glycol: Bull-Bear Score: -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 orders subject to negotiation, 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.