January 07 News On January 7, 2026, the spot contract basis for port ethylene glycol (minimum 500 tons) showed weak performance during the day. 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 declined to -147 to -140, while the basis for next week's contract has dropped 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. Chempricehub Analysis on Ethylene Glycol Bull-Bear Score: -1.5 The article indicates that on January 7, 2026, the spot basis for port ethylene glycol exhibited weak performance. The basis for this week's contract declined from -140 to -138 to -147 to -140, while the basis for next week and forward-month contracts also generally fell (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 of the negative basis reflects increasing pressure from oversupply or insufficient demand in the spot market, posing significant bearish pressure on ethylene glycol spot prices. Combined with the latest ethylene glycol futures data (e.g., the main contract 2605 closed 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 will limit the upside potential of futures prices. Overall, market sentiment is bearish, with a score of -1.5 indicating a strong bearish impact.