化工行业周报：制冷剂、天然橡胶价格上涨

Investment Rating - The report maintains a positive outlook on the basic chemical industry [1] Core Insights - Refrigerant prices are on the rise, with R142b priced at 16,500 CNY/ton, R22 at 31,000 CNY/ton (up 500 CNY/ton), R125 at 35,500 CNY/ton (up 500 CNY/ton), and R134a stable at 34,000 CNY/ton [2][3] - Natural rubber prices continue to increase, reaching 17,400 CNY/ton (up 2.35%), supported by higher tire industry operating rates [2][3] - The report suggests focusing on companies like Juhua Co., Sanmei Co., and Yonghe Co. for refrigerants, and Hainan Rubber for natural rubber [2][3] Summary by Sections (1) Key Chemical Product Price Tracking - Solid caustic soda (up 9.40%), liquid caustic soda (up 3.18%), R125 (up 2.94%), and TDI (up 2.72%) saw significant price increases, while Vitamin A (-5.71%) and PTA (-4.86%) experienced notable declines [8] (2) Refrigerants - The supply of fluorite remains tight due to low production levels, leading to a strong price trend for refrigerants as manufacturers plan maintenance [2][3][21] (3) Natural Rubber - The tire industry's operating rate has improved, supporting the rise in natural rubber prices [2][3] (4) Polyurethane - MDI prices have slightly rebounded due to supply disruptions in Europe, with prices for MDI at 18,100 CNY/ton (up 200 CNY/ton) and pure MDI at 18,500 CNY/ton (up 500 CNY/ton) [11] (5) Agricultural Chemicals - Glyphosate prices have decreased to 24,982 CNY/ton (down 0.4%), with production and inventory levels remaining stable [13][17] (6) Fertilizers - Urea prices have dropped to 1,874 CNY/ton (down 18 CNY/ton), while potassium chloride prices increased to 2,442 CNY/ton (up 39 CNY/ton) [18][20] (7) Fluorinated Chemicals - Prices for refrigerants R22 and R125 have increased, while the supply of fluorinated materials remains ample [21][22]