华泰期货：乙二醇（EG）下跌3.02%，后市怎么看？

Group 1 - The core viewpoint of the article indicates that the ethylene glycol (EG) market is experiencing a significant decline due to rapid inventory accumulation and high supply levels, necessitating further production cuts to balance the market [2][3][9] Group 2 - Since October, EG inventory has rapidly accumulated, with main port stocks rising from 400,000 tons at the end of September to nearly 900,000 tons, averaging an increase of about 200,000 tons per month [8] - The recent production pressure is high, with new facilities such as Ningxia Changyi recently coming online and BASF's 800,000-ton project in Zhanjiang set to start in January, contributing to a cumulative inventory pressure of around 500,000 tons in January and February [8] - The recent reduction in EG production has not met expectations, as operational rates have rebounded to over 70% due to the restart of several facilities, including Zhengda Kai and CNOOC Huizhou, with further increases anticipated in January [8] - The long filament sector is planning production cuts due to declining terminal weaving orders and increased losses among major polyester manufacturers, with a confirmed 10% reduction in POY and a continuation of a 15% reduction in FDY [8]