基础化工行业月报：化工品价格有所回暖，关注三条投资主线

Investment Rating - The report maintains an investment rating of "Market Perform" for the basic chemical industry [1][4]. Core Insights - The basic chemical industry index increased by 0.48% in October 2024, outperforming the Shanghai Composite Index by 2.18 percentage points and the CSI 300 Index by 3.64 percentage points, ranking 17th among 30 first-level industries [1][4]. - The report suggests focusing on three main investment lines: real estate and automotive sectors, textile and apparel supply chains, and industries such as coal chemical, light chemical, phosphate chemical, and potash fertilizer [1][4]. Market Review - In October 2024, 19 out of 33 sub-industries within the basic chemical sector saw gains, with other plastic products, phosphate fertilizers, and viscose industries leading with increases of 20.10%, 16.47%, and 14.29% respectively [5][6]. - The overall performance of the basic chemical sector has shown a decline of 4.82% over the past year, underperforming the Shanghai Composite Index by 13.47 percentage points and the CSI 300 Index by 13.74 percentage points [4][5]. Product Price Tracking - In October 2024, 138 out of 320 tracked chemical products experienced price increases, with notable rises in caustic soda (26.79%), liquid alkali (21.83%), glycerin (20.35%), phenol (16.67%), and hydrogen (16.57%) [1][4]. - Conversely, 140 products saw price declines, with the largest drops in isobutyraldehyde (19.28%), zinc chloride (16.67%), acetonitrile (14.66%), phenol (13.46%), and butadiene (12.10%) [1][4]. Industry and Company News - In the first nine months of 2024, profits in the chemical raw materials and chemical products manufacturing sector decreased by 4%, with total profits amounting to 301.71 billion yuan [7][8]. - The report highlights that the investment in the chemical raw materials and chemical products manufacturing sector increased by 10.1% year-on-year in the first nine months of 2024 [15][16]. Key Company Performances - In October 2024, among 508 stocks in the basic chemical sector, 306 stocks rose while 199 fell, with Tianma New Materials, Qingdao Kingking, and Jiaxian Co. leading the gains with increases of 294.83%, 241.45%, and 235.47% respectively [6][25]. - Conversely, Longyan Group, Jianlong Micro-Nano, and Ruifeng New Materials were among the largest decliners, with drops of 9.29%, 8.63%, and 5.79% respectively [25].