化工ETF(159870)盘中净申购近3亿份，黄磷价格有望上涨

Group 1 - The chemical sector is experiencing strong capital inflow, with the chemical ETF (159870) seeing a net subscription of 299 million units [1] - High prices of sulfuric acid and sulfur are impacting the cost of wet-process phosphoric acid, leading some wet-process phosphoric acid producers to potentially switch to lower-cost thermal phosphoric acid, which may increase the usage of yellow phosphorus [1] - The demand for phosphoric acid is expected to surge after the Spring Festival, but the production of yellow phosphorus may not keep pace with the increased demand, resulting in a supply-demand mismatch [1] Group 2 - Due to limited supply and a slight increase in demand, yellow phosphorus prices are likely to rise after the Spring Festival [2] - As of February 4, 2026, the CSI Sub-Industry Chemical Theme Index (000813) increased by 0.25%, with notable gains from companies such as Sankeshu (3.07%) and Hongda Co. (2.57%) [2] - The top ten weighted stocks in the CSI Sub-Industry Chemical Theme Index account for 44.82% of the index, including major companies like Wanhua Chemical and Yilong Co. [2]