On July 24, 2026, port ethylene glycol (polyester grade, imported, primarily ethylene-based) spot

On July 24, 2026, the spot contract basis (against EG2609 futures) for port monoethylene glycol (polyester grade, imported, predominantly ethylene-based) with minimum lots of 500 tons surged sharply in morning session quotes. This was primarily driven by a significant rise in overseas crude oil prices, leading to heightened market sentiment. Sellers were reluctant to sell, and actual transactions were limited, with the market remaining relatively cautious. In the afternoon session, the number of basis sellers surged, with most trading focused on selling at high prices via fixed-price basis, yet actual transactions were thin. The ranges are as follows:

• Next-week contract (delivery before July 31): basis quoted at +190 to +200.
• Late-August contract (delivery before August 25): basis quoted at +195 to +200.
• Late-September contract (delivery before August 25): basis quoted at +100 to +105.

As of now, actual transactions were concentrated in the morning session within the futures price range of RMB 4,850–4,900 per ton. With futures prices at elevated levels, market wait-and-see sentiment has intensified.