On February 2, 2026, Satellite Chemical Co., Ltd. quoted the ex-factory price of ethylene glycol (ethylene-based) at 3,670 yuan per ton, a decrease of 110 yuan per ton compared to the previous trading day's quotation, with actual transactions primarily negotiated. PriceSeek analysis of ethylene glycol: Bull-bear score: -1.5. The spot ex-factory price of ethylene glycol fell by 110 yuan per ton to 3,670 yuan per ton, reflecting oversupply or weak demand, which constitutes a significant bearish factor for spot prices. In the futures market, the settlement price of the main ethylene glycol contract 2605 (2026-01-30) was 3,950 yuan per ton, with a change of 6 yuan per ton, indicating slight support in the futures market. However, the decline in spot prices may transmit to futures, increasing downward pressure. Overall assessment: The score is -1.5, indicating a generally bearish bias, as the significant drop in spot prices and the focus on negotiated transactions suggest insufficient market confidence.