Investment Rating - The report maintains an investment rating of "Market Perform" for the basic chemical industry [4] Core Viewpoints - The basic chemical industry index fell by 4.18% in August 2024, ranking 12th among 30 CITIC primary industries, with a year-on-year decline of 24.91% [2][3][7] - The report suggests focusing on coal chemical, light hydrocarbon chemical, phosphate chemical, and tire industries for investment opportunities in September 2024 [2][4] Market Review - The basic chemical industry index underperformed compared to the Shanghai Composite Index and the CSI 300 Index by 0.89 and 0.67 percentage points, respectively [3][7] - In August 2024, five out of 33 sub-industries increased, with compound fertilizers, civil explosives, and phosphate chemicals showing the best performance, rising by 5.62%, 3.06%, and 2.82% respectively [8][20] - A total of 139 stocks out of 506 in the basic chemical sector rose, while 365 fell, with the top gainers being *ST Ningke, ST Hongtai, and Quanwei Technology [8][9] Product Price Tracking - In August 2024, international oil prices showed a downward trend, with WTI crude oil down 5.60% to $73.55 per barrel and Brent crude down 2.38% to $78.80 per barrel [3] - Among 317 tracked products, 105 saw price increases, with ethanolamine and natural rubber showing significant gains of 34.27% and 11.45% respectively [3][4] Industry and Company News - The chemical raw materials and chemical products manufacturing prices fell by 1.2% year-on-year in August 2024 [10][11] - The report highlights the establishment of a strategic alliance among four provinces and one region to promote coordinated development in the chemical industry [23][24] - In the first half of 2024, the basic chemical industry in Henan province achieved a total revenue of 38.599 billion yuan, a year-on-year increase of 3.85% [25]
基础化工行业月报：化工品价格回调态势放缓，关注三条主线
Zhongyuan Securities·2024-09-13 10:04