化工行业转向“供需紧平衡”，石化ETF（159731）布局价值凸显

Core Viewpoint - The chemical sector is becoming a "safe haven" for capital, with significant growth in sub-industries such as synthetic resins and adhesives, indicating a transition from "overcapacity" to "tight supply-demand balance" in the chemical industry [1] Group 1: Market Performance - As of 13:40, the Petrochemical ETF (159731) decreased by 0.12%, while stocks like Sanmei Co., China National Offshore Oil Corporation, and China Petroleum saw notable gains [1] - The latest scale of the Petrochemical ETF is 167 million yuan, with a record share of 198 million, both reaching new highs [1] Group 2: Sub-industry Growth - Synthetic resins and adhesives have experienced rapid growth, with prices doubling since April, driven by companies like Aowei New Materials, which has seen its stock price surge over 15 times this year [1] - Other chemical sub-industries, including nylon and polyurethane, have also shown upward trends [1] Group 3: Future Outlook - According to Dongfang Securities, products with high correlation to demand in Europe and the U.S. are expected to benefit first from macroeconomic improvements, while those linked to emerging markets will recover later [1] - MDI and PVC (polyvinyl chloride) are anticipated to be the most certain products for future growth [1] Group 4: Industry Composition - The Petrochemical ETF closely tracks the CSI Petrochemical Industry Index, with the basic chemical industry accounting for 60.85% and the oil and petrochemical industry for 32.16% of the index [1] - Ongoing government policies aimed at reducing "involution" in the chemical industry are a core support for the sector's strength [1]