基础化工行业定期报告：重点关注醋酸及衍生物的涨价持续性

Investment Rating - The industry rating is "Outperform the Market" [3][44] Core Viewpoints - The report emphasizes the sustainability of price increases for acetic acid and its derivatives [2] - The coal supply policy is expected to improve the profitability of coal chemical companies marginally [2] Summary by Sections Prices - As of August 4, acetic acid prices have strengthened to 3,286.7 CNY/ton, a month-on-month increase of 7.4%, while EVA prices have weakened to 9,983.3 CNY/ton, a decrease of 3.9% [6][2] Supply - As of July 31, the operating rate for acetic acid is 95.08% with a stock of 175,900 tons, while methanol's operating rate is 65.31% with a stock of 1,960,000 tons [22][2] Imports and Exports - In June, acetic acid exports reached 101,000 tons, a year-on-year increase of 106.3%, while urea imports fell to 74,000 tons, a decrease of 66.9% [34][2]