基础化工行业周报：欧盟调低对华钛白粉反倾销关税税率，广汇能源百亿级煤化工项目开工

Investment Rating - The report maintains an "Outperform" rating for the basic chemical industry, indicating a positive outlook compared to the broader market [3]. Core Insights - The European Union has lowered the anti-dumping duty rates on titanium dioxide from China, which may benefit domestic producers [1]. - Guanghui Energy has commenced a significant coal chemical project in Xinjiang, with a total investment of 16.48 billion yuan, expected to produce various chemical products upon completion [1]. - The tire sector shows strong competitive advantages for domestic companies, with recommended stocks including Sailun Tire, Senqcia, General Motors, and Linglong Tire [1]. - The consumer electronics sector is anticipated to gradually recover, benefiting upstream material companies, particularly in the panel supply chain [2]. - The phosphorous chemical sector is expected to tighten supply due to environmental regulations and increasing demand from the new energy sector [2]. - The fluorochemical sector is poised for recovery as production quotas for second-generation refrigerants are reduced, supporting profitability [2]. - The recovery of the chemical industry is expected to benefit leading companies with significant scale and cost advantages [3][4]. Summary by Sections Market Performance - The Shanghai Composite Index fell by 0.84%, while the ChiNext Index dropped by 5.14%. The basic chemical index decreased by 0.94% [11]. - The top-performing sub-industries included phosphorous fertilizers (up 8.24%) and polyester (up 5.45%), while organic silicon saw a decline of 9.31% [11][12]. Key Industry Developments - The EU's final ruling on anti-dumping duties for titanium dioxide from China showed a slight decrease in rates compared to initial findings [1]. - Guanghui Energy's coal chemical project is a key initiative in Xinjiang's coal-to-chemical industry, with a processing capacity of 15 million tons per year [1]. Investment Themes - The tire industry is highlighted as a growth area with strong domestic players [1]. - The consumer electronics sector is expected to recover, with a focus on upstream material suppliers [2]. - The phosphorous and fluorochemical sectors are identified as having strong potential due to supply constraints and regulatory changes [2][4]. - Leading chemical companies are expected to benefit from economic recovery and demand resurgence [3][4].