基础化工行业周报：维生素、纯MDI价格上涨，民爆行业整合加速

Investment Rating - The report maintains a "Positive" outlook for the basic chemical industry [1] Core Insights - Vitamin prices have significantly increased due to supply constraints from BASF's factory issues, with Vitamin A and E prices rising sharply. Recommended companies to watch include Xinhecheng and Andisoo [3][8] - MDI prices are expected to continue rising due to supply tightness from Hunstman’s production issues in Europe and domestic maintenance activities. Companies to focus on include Wanhua Chemical [3][8] - The civil explosives industry is undergoing accelerated consolidation, improving market competition. Companies of interest include Yipuli, Guotai Group, Guangdong Hongda, Jiangnan Chemical, and Gaozheng Civil Explosives [3][8] Summary by Sections 1. Key Chemical Product Price Tracking - Vitamin A price increased to 230 CNY/kg, up 55 CNY/kg from last week and 161 CNY/kg since the beginning of the year. Vitamin E price reached 150 CNY/kg, up 25 CNY/kg from last week and 87 CNY/kg year-to-date [2][8] - Pure MDI price rose to 19,000 CNY/ton, up 300 CNY/ton from last week, while polymer MDI price decreased to 17,240 CNY/ton, down 140 CNY/ton [10][11] - TDI price in East China increased to 13,900 CNY/ton, up 650 CNY/ton from last week [10][11] 2. Polyurethane - Polymer MDI price decreased while pure MDI and TDI prices increased due to maintenance and production issues in domestic and foreign plants [10] 3. Agricultural Chemicals - Glyphosate price remained stable at 24,777 CNY/ton, with a weekly production of 10,550 tons and inventory of 70,100 tons [12] - Diammonium phosphate price held steady at 3,651 CNY/ton, while monoammonium phosphate price decreased to 3,360 CNY/ton [14][15] 4. Explosives - Jiangnan Chemical plans to acquire a 35.97% stake in Hongqi Explosives, indicating accelerated consolidation in the civil explosives industry [3][8] 5. Fluorochemicals - Fluorspar price decreased to 3,572 CNY/ton, while R22 price remained stable at 30,500 CNY/ton [17][18] 6. Tires - Natural rubber price increased to 14,666 CNY/ton, while synthetic rubber price decreased to 15,013 CNY/ton [21]