化工板块震荡加剧，午后急拉藏玄机？政策暖风频吹，机构：行业有望走出谷底

Group 1 - The chemical sector experienced a decline in early trading on September 10, with a slight recovery in the afternoon, as reflected by the chemical ETF (516020) which fell by 1.34% [1] - Key stocks in the sector, including Junzheng Group, Jinfat Technology, and Luxi Chemical, saw declines exceeding 4%, while Tianqi Lithium, Duofu Du, and Salt Lake Co. dropped over 3%, negatively impacting the sector's performance [1] Group 2 - The Changjiang Chemical team noted that recent expectations for a reversal of "involution" in the chemical sector have led to some price increases, although market expectations may fluctuate [3] - In the medium to long term, the absence of "involution" policies, potential export growth from overseas interest rate cuts, and a slowdown in domestic industry expansion are expected to improve supply and demand, leading to a recovery in the sector's fundamentals [3] - As of September 9, the chemical ETF (516020) had a price-to-book ratio of 2.3, which is at a relatively low level compared to the past decade, indicating attractive long-term investment opportunities [3] Group 3 - Dongfang Securities anticipates that while the "involution" policy is not yet clearly defined, it is likely that policies addressing industry pain points will be introduced, helping the struggling chemical sector to recover from its current low point [4] - The chemical ETF (516020) tracks the CSI Sub-Industry Chemical Theme Index, covering various sub-sectors within the chemical industry, with nearly 50% of its holdings concentrated in large-cap leading stocks such as Wanhua Chemical and Salt Lake Co. [4] - Investors can also consider the chemical ETF linked funds (Class A 012537/Class C 012538) for exposure to the chemical sector [4]