For the Quarter Ending December 2025
North America
• In the USA, the Ethylene Oxide Price Index fell by 6.87% quarter-over-quarter, reflecting ample feedstock and high operating rates.
• The average Ethylene Oxide price for the quarter was approximately USD 1287.33/MT, based on reported quarterly calculations.
• Ethylene Oxide Spot Price strengthened late December after a cracker outage, tightening supply and lifting regional Price Index readings.
• Ethylene Oxide Price Forecast indicates modest upside risk early next year, linked to potential feedstock tightening and outages.
• Ethylene Oxide Production Cost Trend rose late December as Henry Hub spiked and ethylene availability tightened regionally.
• Ethylene Oxide Demand Outlook remains supportive from the polyester and antifreeze sectors, sustaining medium-term downstream procurement.
• Ethylene Oxide Price Index volatility reflected low merchant inventories and selective export allocations, reducing domestic spot availability.
• Ethylene Oxide Spot Price sensitivity to logistics and regulatory developments could amplify short-term moves and producer responses.
Why did the price of Ethylene Oxide change in December 2025 in North America?
• Unplanned Gulf cracker outage in mid-December removed ethylene availability, tightening feedstock and lifting short-term price pressure.
• Henry Hub natural gas spike increased production costs, influencing the Ethylene Oxide Production Cost Trend upward.
• Balanced inventories and muted downstream spot demand limited sustained rallies, despite export parcels and logistical normalcy.
APAC
• In Japan, the Ethylene Oxide Price Index fell by 3.87% quarter-over-quarter, due to subdued demand.
• The average Ethylene Oxide price for the quarter was approximately USD 869.67/MT, reflecting import-cost influence.
• Ethylene Oxide Spot Price remained weak as import flows and cracker output maintained ample volumes.
• Ethylene Oxide Production Cost Trend showed pressures from firm naphtha offset by softer upstream ethylene.
• Ethylene Oxide Demand Outlook stayed subdued as PET converters and surfactant makers deferred forward purchases.
• Ethylene Oxide Price Forecast implies narrow range movements, with occasional upticks if feedstock tightness emerges.
• Ethylene Oxide Price Index reflected balanced supply, comfortable inventories, freight rates, and modest export competition.
• High plant operating rates kept Ethylene Oxide Spot Price under pressure from persistent surplus volumes.
Why did the price of Ethylene Oxide change in Dec-2025 in APAC?
• Persistent cracker exports and high regional ethylene availability increased supplies, pressuring domestic Ethylene Oxide pricing.
• Weaker downstream procurement from PET and surfactant sectors reduced demand, dampening spot and contract negotiations.
• Firm Brent-linked naphtha and freight costs applied cost pressure, partially offsetting declines in producer margins.
Europe
• In France, the Ethylene Oxide Price Index fell by 4.18% quarter-over-quarter, reflecting weak demand.
• The average Ethylene Oxide price for the quarter was approximately USD 955.00/MT, reflecting subdued demand.
• Ethylene Oxide Spot Price weakened as abundant Lavera supply and lower feedstock ethylene pressured offers.
• Ethylene Oxide Price Forecast suggests modest upside if feedstock costs firm and downstream restocking begins.
• Ethylene Oxide Production Cost Trend improved as natural gas and cracker economics eased production costs.
• Ethylene Oxide Demand Outlook is mixed; MEG seasonality supports while EGBE and detergents remain subdued.
• Ethylene Oxide Price Index stability in late December reflected balanced inventories and uninterrupted pipeline inflows.
• Export inflows from Antwerp and Rotterdam eased costs, while ample depot inventories constrained price recovery.
Why did the price of Ethylene Oxide change in December 2025 in Europe?
• Cheaper feedstock ethylene and lower natural gas reduced production costs, enabling sellers to cut offers.
• Continuous Lavera operations and smooth pipeline flows maintained ample supply, preventing significant domestic price recovery.
• Muted downstream procurement and seasonally filled inventories in detergents and PET limited immediate buying interest.
MEA
• In Saudi Arabia, the Ethylene Oxide Price Index fell by 3.4% quarter-over-quarter, reflecting subdued demand.
• The average Ethylene Oxide price for the quarter was approximately USD 1222.67/MT, FOB Al Jubail.
• Ethylene Oxide Spot Price softened as domestic supply covered needs while export arbitrage remained constrained.
• Ethylene Oxide Price Forecast shows downside risk for Q1 given stable supply and muted purchasing.
• Ethylene Oxide Production Cost Trend stayed muted due to subsidised ethane and steady energy tariffs.
• Ethylene Oxide Demand Outlook shows modest MEG softness while DEG and surfactant consumption remained supportive.
• Ethylene Oxide Price Index traded narrowly as steady plant utilisation limited spot volatility and arbitrage.
• Inventories and export flows constrained arbitrage, keeping Ethylene Oxide Spot Price and seller offers subdued.
Why did the price of Ethylene Oxide change in December 2025 in MEA?
• Stable subsidised ethane and resumed cracker utilisation restored supply balance, removing upstream cost-driven price support.
• Domestic production covered most demand, limiting imports and premiums, thus suppressing Ethylene Oxide spot upside.
• Subdued discretionary export buying and downstream procurement left spot activity thin, keeping December prices neutral.
For the Quarter Ending September 2025
North America
• In the USA, the Ethylene Oxide Price Index rose by 5.0% quarter-over-quarter, supported by exports.
• The average Ethylene Oxide price for the quarter was approximately USD 1763.00/MT, reflecting contract settlements.
• Ethylene Oxide Spot Price remained firm as balanced supply and export activity supported FOB offers.
• Ethylene Oxide Price Forecast suggests upside; Ethylene Oxide Production Cost Trend tightens on ethylene feedstock.
• Ethylene Oxide Demand Outlook shows mixed with steady MEG offsetting softer PTMEG, moderating Price Index.
• High inventories and steady production supported exports but capped gains, limiting movement in Price Index.
• Domestic operating rates remained high with no outages, maintaining supply stability and restraining spot volatility.
• Logistics stability, seasonal MEG restocking, and potential cracker maintenance shape near-term Ethylene Oxide Price Forecast.
Why did the price of Ethylene Oxide change in September 2025 in North America?
• A drop in feedstock ethylene reduced production costs, prompting downward pressure on Ethylene Oxide valuations.
• Ample supply and inventories limited sellers' pricing power, constraining Ethylene Oxide Price Index upward movement.
• Weaker downstream demand from polyester and spandex sectors reduced offtake, softening Ethylene Oxide spot pricing.
APAC
• In Japan, the Ethylene Oxide Price Index rose by 1.88% quarter-over-quarter, due to feedstock pressure.
• The average Ethylene Oxide price for the quarter was approximately USD 904.67/MT, based on depot assessments.
• Ethylene Oxide Spot Price remained range-bound through Q3, with the Price Index showing steady depot demand conditions.
• Ethylene Oxide Price Forecast signals modest upside as Ethylene Oxide Production Cost Trend tightens from firmer ethylene and naphtha.
• Ethylene Oxide Demand Outlook remains balanced; MEG-driven offtake supports the Price Index amid softer other derivatives.
• Producers faced upward Production Cost Trend from ethylene feedstock, prompting cautious run rates and spot pass-through.
• Balanced inventories and limited export demand reduced volatility, keeping the Ethylene Oxide Price Index range-bound into September.
• Major producers operated routinely, lowering supply shock risk, supporting the Ethylene Oxide Spot Price and Forecast.
Why did the price of Ethylene Oxide change in September 2025 in APAC?
• Higher ethylene feedstock costs raised production expenses, prompting manufacturers to increase Ethylene Oxide price support.
• Strong MEG offtake sustained demand, cushioning markets and limiting larger declines in Ethylene Oxide Price Index.
• Stable logistics and routine plant operations limited disruptions, keeping Ethylene Oxide supply adequate for demand.
Europe
• In France, the Ethylene Oxide Price Index rose by 3.3% quarter-over-quarter, driven by feedstock demand.
• The average Ethylene Oxide price for the quarter was approximately USD 996.67/MT based on FD Marseille deliveries.
• Ethylene Oxide Spot Price movements stayed range-bound; Ethylene Oxide Price Index recently showed cost-driven volatility.
• Ethylene Oxide Price Forecast suggests modest upside if upstream ethylene tightens and downstream restocking strengthens.
• Ethylene Oxide Production Cost Trend rose due to ethylene and naphtha cost increases, pressuring margins.
• Ethylene Oxide Demand Outlook remains mixed with firm MEG restocking but weaker construction-related DEG uptake.
• Balanced inventories and steady Lavéra operations supported supply, while export inquiries exerted intermittent upward pressure.
• Logistics fluctuations in nearby hubs intermittently tightened flows, amplifying short-term Ethylene Oxide Price Index sensitivity.
Why did the price of Ethylene Oxide change in September 2025 in Europe?
• Feedstock ethylene eased in September, directly reducing Ethylene Oxide production costs and selling offers nationwide.
• Stable domestic inventories combined with muted downstream procurement limited upward price momentum during September period.
• Logistical easing versus earlier congestion reduced urgency for imports, tempering short-term Ethylene Oxide Price Index rebounds.
MEA
• In Saudi Arabia, the Ethylene Oxide Price Index rose by 2.15% quarter-over-quarter, driven by ethylene and export demand.
• The average Ethylene Oxide price for the quarter was USD 1265.67/MT, reflecting export trade.
• Ethylene Oxide Spot Price remained range-bound amid balanced supply, stable inventories, and steady export activity.
• Ethylene Oxide Production Cost Trend showed upward pressure as ethylene and naphtha costs tightened margins.
• Ethylene Oxide Demand Outlook remains mixed with MEG requirements offset by cautious overseas restocking.
• Ethylene Oxide Price Forecast flags modest upside, contingent on feedstock and export buying momentum near-term.
• Ethylene Oxide Price Index dynamics reflected stable operating rates, limited outages, and manageable tank inventories.
• Major producers maintained production, with Aramco and SABIC supply continuity underpinning exports and limiting volatility.
Why did the price of Ethylene Oxide change in September 2025 in MEA?
• Balanced regional supply and steady downstream MEG demand kept prices stable despite input cost pressures.
• Firm ethylene and naphtha costs raised production expenses, offset by uninterrupted logistics and port operations.
• Export demand from Asia remained consistent, supporting FOB levels while buyers delayed aggressive restocking ahead.
For the Quarter Ending June 2025
North America
• For Q2 2025, the Ethylene Oxide Price Index averaged +0.5%, on an FOB US Gulf basis. Prices remained mostly stable and settled near USD 912/MT by end of June, supported by stable contract trades.
• Downstream demand, especially from the pharmaceutical and cleaning chemical sectors, helped balance the spot market, even with weak export demand.
• Why did the price of Ethylene Oxide change in July 2025?
July saw a marginal uptick as suppliers sustained earlier pricing levels amidst limited spot market activity and reduced availability.
• Freight and logistics within the US remained uninterrupted, with normal trucking and railcar turnaround times.
• The Ethylene Oxide Demand Outlook for Q3 remains cautiously steady, with expectations tied to rebound in industrial solvents and surfactants.
• The Ethylene Oxide Production Cost Trend remained unchanged, with flat ethylene feedstock and operating costs; producers reported stable margins.
• Ethylene Oxide Spot Price is projected to stay firm in early Q3; the Ethylene Oxide Price Forecast suggests modest upside if inventory drawdowns occur in key sectors.
Europe
• The Ethylene Oxide Price Index averaged a decline of 1.2% during Q2 2025 on an FD basis, with prices settling near USD 985/MT by late June.
• Lower demand from automotive, textiles, and flexible packaging sectors, alongside higher inventory levels, weighed on market sentiment.
• Why did the price of Ethylene Oxide change in July 2025?
The dip in July was triggered by subdued spot market buying, especially in Germany and The Netherlands, where buyers remained conservative due to sufficient stock.
• Regional logistics remained stable; no port congestion or intra-EU transport delays were reported.
• The Ethylene Oxide Demand Outlook remains muted amid lacklustre industrial activity and poor downstream momentum.
• The Ethylene Oxide Production Cost Trend stayed neutral; however, rising electricity and carbon costs slightly pressured overall margins.
• Ethylene Oxide Spot Price in Q3 may hover near Q2 levels. The Ethylene Oxide Price Forecast hints at potential stabilization if inventory reduction accelerates and downstream orders recover.
APAC
• The Ethylene Oxide Price Index fell by an average of 2.3% in Q2 2025 on an Ex- Japan basis, with prices closing around USD 885/MT by the end of June.
• Persistent weakness in Japanese domestic demand, coupled with increased supply competition from Chinese producers, kept prices under pressure.
• Why did the price of Ethylene Oxide change in July 2025?
A further drop occurred as buyers delayed procurement, expecting further declines. Limited export opportunities and stagnant coatings demand added to the drag.
• Oversupply risks rose due to lower capacity utilization and competitive exports from China and South Korea.
• The Ethylene Oxide Production Cost Trend in Japan inched up, largely driven by utility and maintenance spending, though profitability remained thin.
• The Ethylene Oxide Demand Outlook for Q3 is expected to stay weak unless domestic manufacturing activity picks up.
• Ethylene Oxide Spot Price is likely to remain under pressure; the Ethylene Oxide Price Forecast suggests a flat-to-slightly bearish outlook into Q3.
MEA
• The Ethylene Oxide Price Index in the MEA region averaged a 0.6% decrease in Q2 2025 on an FOB AI Jubail basis, with prices closing around USD 1265/MT by late June.
• Spot market demand stayed flat due to limited downstream consumption and lukewarm export volumes toward South Asia and East Africa.
• Why did the price of Ethylene Oxide change in July 2025?
July saw minor declines as regional sellers faced resistance to offer prices, particularly from East African buyers. EO trading slowed as bulk converters awaited clearer pricing signals.
• Logistics and freight remained stable out of Saudi Arabia, with no reported shipping delays or port congestion.
• The Ethylene Oxide Production Cost Trend remained favourable due to low feedstock and energy costs, though subdued realizations slightly compressed margins.
• The Ethylene Oxide Demand Outlook for Q3 remains flat, with a small pickup expected only if glycol and surfactant exports improve.
• Ethylene Oxide Spot Price may remain weak across the region; Ethylene Oxide Price Forecast indicates limited recovery unless buying interest returns by mid-Q3.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American ethylene oxide market experienced a dynamic shift, beginning with a phase of stability in January. Early in the quarter, steady feedstock availability and balanced supply-demand conditions supported consistent production levels. Key downstream sectors such as automotive, textiles, and detergents maintained stable demand, while interest in mono ethylene glycol (MEG) and polytetramethylene ether glycol (PTMEG) provided mild upward momentum.
Mid-January saw modest market strength due to increasing feedstock costs and heightened demand from MEG and PTMEG sectors. However, by February, the market shifted direction as feedstock ethylene prices declined, initiating a downward pricing trend. Despite stable demand in sectors like PET, MEG, and diethylene glycol, weak market sentiment and increased inventory levels weighed on the market.
The declining trend persisted through March, driven by further feedstock cost reductions and moderate-to-weak downstream demand. Although manufacturing activity adjusted accordingly, oversupply and sluggish buying interest intensified bearish pressure. Toward the end of the quarter, despite operational stability, the market remained under pressure with softened demand and lower raw material costs shaping overall sentiment.
APAC
In the first quarter of 2025, ethylene oxide prices in the APAC region, particularly Japan, showed a blend of volatility and stability, largely shaped by inventory adjustments, feedstock dynamics, and demand patterns. January began with a decline in prices, triggered by surplus inventories as manufacturers responded to previous overproduction or speculative stockpiling. Even with steady demand and feedstock supply, this imbalance between supply and consumption led to temporary downward pressure.
Mid-January saw continued softness due to reduced feedstock values and waning demand from sectors such as polyethylene terephthalate (PET), further influencing market sentiment. In early February, a modest price increase occurred as inventory levels drew down and slight supply tightness emerged, despite persistent weakness in downstream demand during the post-holiday slowdown.
As industrial activity resumed toward late February and into March, the market regained balance. Stable consumption from key downstream industries such as mono ethylene glycol, PET, and glycol ethers helped support steady operations. With manufacturing and supply chains running smoothly, the quarter closed with a well-balanced market outlook and expectations of gradual demand recovery across various industrial applications.
Europe
In Q1 2025, the ethylene oxide market in Europe, particularly Germany, experienced a shift from early stability to a softening trend by the end of the quarter. January began with balanced supply-demand conditions and steady feedstock costs, supporting consistent production and stable consumption across key sectors such as automotive, detergents, and textiles. Manufacturing operations ran without disruption, and the outlook remained optimistic due to reliable supply chains and stable industrial activity.
February saw minor upward movement early in the month, driven by rising feedstock costs and a slight uptick in demand from sectors like mono ethylene glycol and PET. However, the market stabilized shortly after, with supply and demand largely in equilibrium. Toward the end of the month, a notable price correction occurred due to lower feedstock prices, even though downstream demand remained steady.
March marked a pronounced downtrend as weakening feedstock costs, high inventories, and severe port congestion in Hamburg and Bremerhaven disrupted logistics. Despite stable demand in sectors like glycol ethers and PTMEG, overall market sentiment turned bearish. The combination of logistical challenges and subdued demand exerted continued downward pressure on prices throughout the month.
MEA
In Q1 2025, the ethylene oxide market in the MEA region, particularly Saudi Arabia, maintained relative stability, shaped by shifting feedstock dynamics and evolving demand patterns. January began with steady pricing, as manufacturers leveraged existing inventories to absorb rising feedstock costs. Demand from key sectors like automotive, detergents, and textiles remained consistent, allowing for smooth operations and market equilibrium.
Midway through the quarter, slight fluctuations occurred in response to changing feedstock prices and downstream demand. Inventory adjustments and cautious replenishment strategies by producers influenced short-term pricing. Demand from mono ethylene glycol and diethylene glycol segments showed mixed trends, with some sectors experiencing minor declines, while others remained resilient.
By March, market sentiment stabilized further, supported by steady feedstock costs and a balanced supply-demand environment. Notable improvements in demand from applications like antifreeze and industrial solvents helped sustain market activity. While the PET sector experienced minor dips in demand, other segments contributed to an overall balanced outlook. The quarter closed with improved buying sentiment and slight upward movement, signalling potential for gradual growth as industrial activity continues to expand.
