January 12th News: On January 12, 2026, Shaanxi Coal Group Yulin Chemical Co., Ltd. held an auction for polyester-grade ethylene glycol (produced from syngas) in the morning (auction time: 10:00–10:10). The auction volume was 1,530 tons, with a starting bid of 34 tons. The delivery address was at the factory area of Shaanxi Coal Group Yulin Chemical Co., Ltd., with a 7-day delivery period. The starting price was 3,250 yuan/ton, including tax and self-pickup from the factory. Traders quoted 3,300 yuan/ton externally, with actual orders subject to negotiation. Chempricehub Analysis of Ethylene Glycol: Bull-Bear Score: -1.5 Shaanxi Coal Group’s auction of polyester-grade ethylene glycol started at 3,250 yuan/ton, 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 closed at 3,866 yuan/ton, down 12 yuan), the auction event reinforces bearish market expectations. It is expected to exert sustained downward pressure on futures prices, particularly on the main contract. The score is -1.5 (significantly bearish), as although the auction volume of 1,530 tons is not massive, the low starting price and declining negotiations highlight the risk of supply-demand imbalance.