MEG

Report Summary 1. Industry Investment Rating No information provided. 2. Core View - The report anticipates that the price center of ethylene glycol (MEG) will fluctuate within a narrow range in the short term. Although the supply side of MEG has an incremental expectation due to the restart of some short - stopped and previously overhauled devices and the planned commissioning of new devices, the demand improvement is limited as the peak season of "Golden September and Silver October" is coming to an end, despite a short - term boost from the increase in downstream orders during the Double Eleven period [3]. 3. Summary by Related Content Price Information - On October 29, 2025, the price of MEG showed different trends. The spot price center of MEG oscillated and adjusted, with the afternoon spot basis strengthening. The night - session of MEG opened lower and moved up, and the on - site negotiation was light. In the morning, the market was mainly in a weak correction, with spot negotiations and transactions centered around a premium of 66 - 72 yuan/ton over the 01 contract. In the afternoon, the buying of recent goods was active, and the spot basis strengthened to a premium of around 80 yuan/ton over the 01 contract. In the US dollar market, the outer - disk center of MEG adjusted narrowly. Near noon, recent shipments fell to around 488 - 490 US dollars/ton, and some traders participated in inquiries at low prices. In the afternoon, the market rebounded, and recent shipments were negotiated at around 492 - 493 US dollars/ton, with the negotiation being a bit stalemate [3]. - Other chemical product prices on October 29, 2025, are as follows: the price of naphtha CFR was 5575 US dollars/ton, up 0.44% from the previous value; the price of ethylene in Northeast Asia was 766 US dollars/ton, unchanged from the previous value; the ex - factory average price of cyclohexane in East China was 6150 yuan/ton, unchanged from the previous value; the price of methanol was 2202 yuan/ton, up 5550.00% from the previous value; the price of brown coal in Inner Mongolia (Q3000) was 290 yuan/ton, unchanged from the previous value; the closing price of the main contract was 4100 yuan/ton, up 0.76% from the previous value; the settlement price of the main contract was 4081 yuan/ton, down 0.22% from the previous value; the closing price of the near - month contract was 4042 yuan/ton, down 0.6% from the previous value; the settlement price of the near - month contract was 4040 yuan/ton, down 0.64% from the previous value; the market price of ethylene glycol in East China was 4100 yuan/ton, up 0.95% from the previous value; the price of ethylene glycol in Inner Mongolia was 4180 yuan/ton, down 0.9% from the previous value; the price difference between the far - month and near - month contracts was 34 yuan/ton; the basis was 80 yuan/ton, up 9 yuan/ton from the previous value; the comprehensive ethylene glycol was 64.41%, unchanged from the previous value; the ethylene glycol produced from oil was 66.66%, unchanged from the previous value; the operating rate of coal - based ethylene glycol was 61.16%, unchanged from the previous value; the industrial load rate of polyester (PTA) plants was 89.28%, unchanged from the previous value; the industrial load rate of textile machinery in Zhejiang Province was 2.06%, up 0.2% from the previous value; the outer - disk price of ethylene glycol produced from naphtha was 1215.9 US dollars/ton, up 10.13% from the previous value; the outer - disk price of ethylene glycol produced from ethylene was 1089 US dollars/ton, down 3 US dollars/ton from the previous value; the after - tax gross profit of the coal - based synthesis device was 110.18 yuan/ton, up 2.22 yuan/ton from the previous value; the price index of polyester was 8400 yuan/ton, up 0.3% from the previous value; the price index of polyester ester was 6775 yuan/ton, up 0.37% from the previous value; the price index of polyester staple fiber was 6360 yuan/ton, up 0.08% from the previous value; the price index of bottle - grade chips was 4000 yuan/ton, up 0.35% from the previous value [1]. Supply and Demand Situation - A 400,000 - ton/year MEG plant in Fujian has successfully restarted and produced materials, and the subsequent load will run at around 90% [2]. - Some MEG plants are under planned maintenance recently, but with the successive restart of short - stopped and previously overhauled plants and the planned commissioning of new plants in the future, the supply side of MEG has an incremental expectation. The loom operating rate has continued to rise slightly recently, and downstream orders have increased during the Double Eleven period, driving some replenishment demand. However, as the peak season of "Golden September and Silver October" is coming to an end, the demand increment is limited [3]. Sales Situation - On October 29, 2025, the sales rates of polyester filament, polyester staple fiber, and polyester chips were 48.87%, 43.57%, and 37.06% respectively. The sales of polyester filament were average. Due to the repair of oil price premium and the slowdown of raw material price increase, the downstream and terminal businesses were good, but the raw material inventory was sufficient, with less new inventory added during the day and only sporadic rigid demand [3].