基础化工行业周报（20240715-20240721）：国际油价震荡下跌，维生素价格再度上涨

Investment Rating - The report maintains an "Overweight" rating for the basic chemical industry [7][45]. Core Insights - The basic chemical index decreased by 2.10% over the past week, underperforming the CSI 300 index by 4.02 percentage points, ranking 28th among all sectors [3][10]. - Key sub-industries with positive performance include rubber additives (2.78%), coatings and inks (1.25%), and organic silicon (1.24%), while fluorinated chemicals (-8.16%), adhesives and tapes (-6.31%), and carbon black (-5.44%) saw significant declines [12][10]. - The report highlights a significant increase in the prices of certain chemical products, with domestic vitamin D3 rising by 20.37% and diethanolamine by 12.05% [17][18]. Market Trends - The basic chemical sector has shown mixed performance, with some products experiencing substantial price increases while others have faced sharp declines [4][17]. - The report notes that the international oil price has been fluctuating downwards, impacting the overall demand outlook [5][10]. Chemical Price Trends - The top five products with the highest weekly price increases include domestic vitamin D3 (20.37%), diethanolamine (12.05%), sulfuric acid (8.31%), sulfur (6.03%), and domestic vitamin K3 (4.65%) [17][18]. - Conversely, the products with the largest price declines include liquid nitrogen (-29.49%), NYMEX natural gas (-8.17%), concentrated nitric acid (-5.41%), lithium carbonate (-4.44%), and octanol (-3.61%) [19][18]. Key Company Dynamics - WanHua Chemical announced a planned maintenance shutdown for its Hungarian subsidiary, which will not impact overall production [30]. - Hualu Hengsheng is investing 1.7 billion yuan in upgrading its amine raw material project and a new 200,000 tons/year dicarboxylic acid project [31][32]. - The report indicates that SaiLun Tire expects a significant increase in net profit for the first half of 2024, projecting a growth of 102.68% to 108.41% year-on-year [39]. - The report also highlights that the company "MoriQilin" anticipates a net profit increase of 64.95% to 97.94% for the same period [40]. Investment Recommendations - The report suggests focusing on several key sectors: refrigerants, chemical fibers, coal chemicals, tire manufacturing, agricultural chemicals, and high-quality growth stocks [6][45].