July 13th, according to the news,
July 13, ethylene glycol prices in China increased.
On July 13, 2026, the price of ethylene glycol increased. According to the data, as of July 13, the average spot market price for oil-based ethylene glycol among Chinese traders was 4,415 CNY per ton.
Port paper ethylene glycol prices in China are mainly based on basis pricing, with prices fluctuating closely with the futures market. On July 13, 2026, the ethylene glycol futures price surged, and the basis and price of port paper ethylene glycol also rose synchronously. For the port ethylene glycol spot contracts (starting from 500 tons), the intraday basis quotes for this week's spot contracts were within the range of +170 to +175.
Brief Explanation of the Reasons for the Rise in Ethylene Glycol Prices on July 13, 2026:
On July 13, 2026, the price of ethylene glycol increased. The main reason was the escalation of the geopolitical conflict between the US and Iran, which raised the costs of crude oil and naphtha. At the same time, there were concerns about the disruption of Middle Eastern import shipments. Additionally, multiple ethylene glycol plants in China underwent concentrated maintenance, and the port inventory in East China continued to decrease to a low level for the same period in recent years, leading to a tight supply of spot goods. Coupled with a slight increase in polyester production and the market's early anticipation of the traditional peak season in September and October, as well as the exit of short sellers and the entry of speculative long positions due to previously low prices, these multiple positive factors collectively drove the rise in the price of ethylene glycol on that day.
Latest News on the Strait of Hormuz:
In the early hours of July 12, local time, Iran’s Islamic Revolutionary Guard Corps unilaterally announced the indefinite closure of the Strait of Hormuz, citing ongoing U.S. military intervention in the region and demanding that the U.S. cease its actions before the strait can reopen. On the same day, the U.S. military launched a large-scale airstrike targeting facilities along the coast of Hormozgan Province in southern Iran, missile sites, and targets on Kish Island, killing one Iranian citizen and injuring two others. The U.S. also carried out operations against Iranian speedboat units operating near the strait. In response, Iran retaliated by launching missiles and drones at the U.S. airbase at Al Udeid in Qatar, the U.S. logistics hub at Duqm Port in Oman, and U.S. military bases in Jordan and Bahrain. Three people in Qatar were injured by shrapnel from the strikes. Earlier, Iran had already targeted foreign merchant vessels in the strait that had deviated from their designated routes and disabled their tracking systems; one container ship was damaged, and its crew members are missing.
Iran: Reaffirms a complete ban on navigation through the strait. All vessels must wait until the situation eases and reapply for transit permits. Vessels that do not follow the routes designated by Iran will no longer be guaranteed safety.
United States: Both the U.S. military and President Trump have stated that the Strait remains open and fully navigable, with normal passage possible on the Omani side in the south. The U.S. military is providing escort and coordination services. The U.S. has denied that Iran holds control over the Strait. Over the past 24 hours, approximately 20 commercial vessels have completed their transit under U.S. military coordination.
China’s statement: The strait is an international waterway of vital importance for navigation. Ensuring safe and free passage in the strait serves the common interests of the global community. We call on all parties to properly resolve their differences and restore stability to the waterway. China stands ready to maintain multi-party communication and coordination.
Consequences: The global energy risk premium has risen, driving synchronous increases in Brent and U.S. crude oil prices. On July 13, China's ethylene glycol price surged sharply amid geopolitical supply concerns. The market began trading on expectations that the closure of the Strait would disrupt Middle Eastern import supplies and push up upstream raw material costs—both favorable factors.
