Investment Rating - The report does not explicitly state an investment rating for the oil refining industry Core Insights - The domestic key refining project price spread is 2255.03 CNY/ton, with a week-on-week change of -78.19 CNY/ton (-3.35%) as of October 11, 2024, while the foreign key refining project price spread is 865.02 CNY/ton, with a week-on-week change of -49.30 CNY/ton (-5.39%) [1][2] - Brent crude oil weekly average price is 79.28 USD/barrel, with a week-on-week change of 7.05% [1][2] - The report highlights that the polyester price has generally increased, with improvements in the price and profitability of polyester filament due to strong cost support and active stocking by downstream users [1][7] Summary by Sections Refining Sector - International crude oil prices have fluctuated, with Brent and WTI prices at 78.79 USD/barrel and 74.71 USD/barrel respectively as of October 11, 2024 [1][7] - Domestic refined oil prices have slightly increased, with diesel, gasoline, and aviation kerosene averaging 7071.00 CNY (+52.43), 8182.29 CNY (+10.00), and 6303.71 CNY (+92.43) per ton respectively [1][7] Chemical Sector - Polyethylene prices have increased, with LDPE, LLDPE, and HDPE averaging 10780.00 CNY (+187.14), 8302.57 CNY (+47.86), and 8350.00 CNY (+0.00) per ton respectively, although the price spread has narrowed [1][51] - EVA prices have shown a slight increase to 9810.00 CNY (+102.86) per ton, but the price spread continues to narrow due to supply-demand imbalance [1][51] - Pure benzene prices have decreased to 7964.29 CNY (-128.57) per ton, with a widening price spread [1][51]
大炼化周报：下游客户备货积极性提升，长丝库存及盈利优化
Xinda Securities·2024-10-13 08:03