基础化工行业周报：合成氨、顺丁橡胶等涨幅居前，建议继续关注石化板块和轮胎板块

Investment Rating - The report maintains a "Buy" rating for several companies in the chemical and petrochemical sectors, including Sinopec, Juhua, and others [4][12][21]. Core Insights - The report highlights that synthetic ammonia and butadiene rubber have seen significant price increases, while products like acetic acid and coke have experienced notable declines [2][11]. - It suggests that the chemical industry is entering a peak demand season, with opportunities for investment in leading companies within specific sub-sectors, particularly those with strong cost advantages and stable competitive landscapes [3][12]. - The report emphasizes the importance of monitoring oil prices, which have recently declined, and suggests that this may lead to improved profitability for refining companies like Sinopec [11][12]. Summary by Sections Chemical Industry Investment Recommendations - The report recommends focusing on companies with strong performance expectations in the tire industry, upstream mining, and titanium dioxide sectors [3][12]. - It identifies specific leading companies to watch, including Wanhua Chemical, Hualu Hengsheng, and Longbai Group, among others [3][12]. Price Movements - Notable price increases this week include synthetic ammonia (up 8.24%), acrylonitrile (up 6.88%), and butadiene rubber (up 4.58%) [11]. - Conversely, significant price declines were observed in VCM (down 2.86%), acetic anhydride (down 4.67%), and sulfuric acid (down 8.00%) [11]. Market Performance - The report notes that the chemical sector has underperformed over the past year, with a 23.1% decline compared to the Shanghai Composite Index's 12.4% decline [2][11]. - It highlights that many sub-sectors have struggled due to overcapacity and weak demand, but some, like the tire industry, have exceeded expectations [12]. Oil Price Trends - As of August 30, WTI crude oil prices were at $73.55 per barrel, down 1.71% from the previous week, while Brent crude was at $78.80 per barrel, down 0.28% [11][12]. - The report anticipates continued volatility in oil prices due to geopolitical factors and market expectations [11][12]. Specific Company Insights - Companies such as Sinopec and China National Offshore Oil Corporation are highlighted as having already reflected the recent oil price declines in their stock prices, suggesting potential for recovery [11][12]. - The report also provides detailed earnings forecasts for various companies, indicating a positive outlook for several key players in the industry [4][12].