Morning Market Brief for Ethylene Oxide (September 18, 2026)

1. Key Focus Points

1. September 17: The U.S. suggested that the U.S.-Iran conflict is nearing its end, while multiple parties continue to push for de-escalation in the Middle East, leading to a decline in international oil prices. NYMEX WTI crude oil futures (October contract) closed at $101.91/bbl, down $0.52/bbl (-0.51% WoW); ICE Brent crude oil futures (November contract) closed at $104.82/bbl, down $1.01/bbl (-0.95% WoW). China INE crude oil futures (November 2026 contract) fell by 33.4 to 805 yuan/bbl; the night session dropped by 42.5 to 762.5 yuan/bbl.
2. September 17: Port ethylene USD CFR Northeast Asia price stood at $1,170/ton, remaining unchanged from the previous business day.
3. September 17: The daily capacity utilization rate of China's ethylene oxide industry was 51.53%.

2. Price Table

Data Source: Chempricehub Information

Notes:

1. The two periods represent spot prices on the past two business days, not weekly averages.
2. All RMB prices in the table above are ex-factory cash-inclusive tax prices.
3. The change percentage refers to the week-over-week (WoW) variation rate.
4. Unit: Yuan/ton.

3. Market Outlook

Ethylene oxide prices are expected to maintain an upward trend in the near term. Monoethylene glycol (MEG) supply remains tight, with prices likely to trade firm, providing some support to the market. Ethylene oxide spot supply faces no pressure, continuing to offer certain support to market prices. Downstream industries maintain operating rates consistent with rigid demand procurement. On the cost side, ethylene derivative prices have softened, reducing buyers' willingness to purchase ethylene; thus, momentum for further price hikes is insufficient, though costs may find bottom-level support. Overall, short-term fundamentals may still provide impetus, and an upward adjustment in ethylene oxide prices cannot be ruled out. Future developments in upstream and downstream sectors require monitoring.

Note:

1. ↓↑ indicates significant volatility, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow-range fluctuations, highlighting data dimensions with changes within 0–3%.

Data Source: Chempricehub Information