On January 12, 2026, Shaanxi Coal Group Yulin Chemical Co., Ltd. auctioned 1,530 tons of polyester-grade ethylene glycol (synthesized from syngas) in the morning (auction time: 10:00–10:10). The starting lot size was 34 tons, with delivery at the company's plant premises and a 7-day pickup period. The starting price was 3,250 yuan/ton, inclusive of tax and self-pickup ex-factory. Traders quoted 3,300 yuan/ton externally, with actual transactions subject to negotiation. PriceSeek Analysis: Ethylene Glycol, Bull-Bear Score: -1.5 Shaanxi Coal Group’s auction starting price of 3,250 yuan/ton for polyester-grade ethylene glycol was lower than the traders’ quoted price of 3,300 yuan/ton, indicating ample spot market supply and weak demand, which may further depress spot prices. Combined with the weak performance of ethylene glycol futures in the near-term contracts (e.g., the 2605 contract closing at 3,866 yuan/ton, down 12 yuan), the auction event reinforced bearish market expectations. It is anticipated to exert sustained downward pressure on futures prices, particularly on the main contracts. The score is -1.5 (significantly bearish), as the auction volume of 1,530 tons, while not massive, highlights the risk of supply-demand imbalance through the low starting price and declining negotiated prices.