Zhong Guo Neng Yuan Wang·2025-09-29 02:44Core Insights - The basic chemical industry experienced a decline of 0.95% during the week of September 22-28, ranking 17th among 31 primary industries in the Shenwan index [1][3] - The oil and petrochemical industry saw a smaller decline of 0.12%, ranking 10th in the same index [1][3] - In terms of product prices, out of 100 tracked chemical products, 25 saw price increases, 43 experienced declines, and 32 remained stable [1][3] Industry Dynamics - The average price of 34% of tracked products increased month-on-month, while 52% decreased, and 14% remained unchanged [1][3] - The top gainers in weekly average prices included liquid ammonia, anhydrous hydrofluoric acid, and aniline, while the largest decliners included sulfuric acid and vitamin E [3] - International oil prices rose, with WTI crude futures closing at $65.72 per barrel (up 4.85%) and Brent crude at $70.13 per barrel (up 5.17%) [4] - U.S. crude oil production averaged 13.50 million barrels per day, an increase of 30,100 barrels compared to the same week last year [4] - Natural gas futures closed at $2.84 per mmbtu, with a weekly decline of 1.73% [5] Price Trends - Vitamin prices have been declining due to weak downstream demand, with vitamin A averaging 60 yuan/kg (down 1.64% week-on-week) and vitamin E at 46 yuan/kg (down 7.07%) [6] - Nylon prices also fell, with PA6 chip prices averaging 9,325 yuan/ton (down 2.36% week-on-week) [7] Investment Recommendations - As of September 28, the price-to-earnings ratio for the basic chemical sector was 25.20, while the oil and petrochemical sector stood at 11.52 [8] - Suggested areas of focus include the impact of "anti-involution" on supply, the importance of self-sufficiency in electronic materials, undervalued industry leaders, and stable dividend policies in energy companies [2][9] - Long-term investment themes include the sustained high prices of crude oil, the growth of new materials, and the recovery of demand supported by policy initiatives [9]