后期存累库预期 乙二醇期货盘面或低位承压震荡

Core Viewpoint - Ethylene glycol futures experienced a slight decline of 0.51%, closing at 4116.00 yuan, with a minimum drop to 4098.00 yuan [1][2]. Group 1: Market Analysis - Zhonghui Futures suggests a cautious bearish outlook for ethylene glycol, indicating that domestic production is slightly increasing while overseas production remains stable. Although terminal consumption has improved, expectations are under pressure. Overall inventory is low, providing some price support, but with new production facilities coming online and maintenance facilities resuming, supply is expected to increase post-holiday, leading to a potential inventory build-up [2]. - Foshan Jinkong Futures notes that the cost side lacks support, and domestic operating rates have significantly increased, with new facilities adding pressure to the market. The main contract is expected to find support around 4000-4100 yuan, indicating a potential for low-level consolidation [3]. - Wukuang Futures recommends a wait-and-see approach, highlighting that both domestic and international production levels are high, with an increase in imports leading to port inventory accumulation. The expectation for the fourth quarter is continued inventory build-up, with current valuations being neutral to low, suggesting limited downside potential [4].