“周期反转+新兴需求拉动”催化，化工龙头ETF（516220）午后领涨超2%

Group 1 - The core investment logic for the chemical industry in 2026 focuses on the dual resonance of "cyclical reversal + emerging demand stimulation" [3] - The chemical industry has been in a down cycle for approximately 3.5 years, but with a continuous decline in capital investment and the accelerated exit of outdated overseas capacities, the industry is expected to enter a low growth phase [3] - Recent price increases in chemical products are driven by multiple factors, including tightening supply due to reduced production capacity in Europe and domestic maintenance of large production facilities [3] Group 2 - The chemical sector is experiencing a structural optimization on the supply side, with domestic policies emphasizing "anti-involution" and overseas production cuts due to rising raw material costs [4] - The chemical industry is at the bottom of the down cycle and is gradually moving towards an up cycle, with "anti-involution" policies expected to accelerate this transition [4] - The chemical leader ETF (516220) is recommended for capturing investment opportunities in the chemical sector, covering 50 leading chemical stocks and including both traditional cyclical sectors and emerging growth areas [4]