化工及新能源材料行业周报：钛白粉内外需均受干扰，成本提振涤纶长丝价格

Investment Rating - The industry investment rating is "Recommended" [1] Core Viewpoints - The titanium dioxide market is experiencing weak demand both domestically and internationally, with recent anti-dumping investigations affecting exports from China [2][6] - The chemical industry is currently facing a low point in terms of profitability, with many companies operating at a loss, while those with raw material resources are still able to generate profits [2][6] - Recent fiscal policy signals from the government are expected to boost market confidence and support a valuation recovery in the chemical sector [2][3] Industry Performance and Analysis - From October 8 to October 11, 2024, the Shenwan Basic Chemical Index fell by 6.40%, underperforming the Shanghai Composite Index, which decreased by 3.56% [5] - The best-performing segments included organic silicon and other plastic products, while the worst performers were textile chemical products, potassium fertilizer, and titanium dioxide [5] - The price of titanium dioxide has decreased by 1.59% to 14,989 RMB/ton recently, with a monthly decline of 2.56% [6] Recommendations - Three key investment directions are recommended: 1. Leading companies with absolute cost advantages 2. Industries that have completed a round of capacity expansion, particularly polyester filament and refrigerants 3. Niche sectors with high technical barriers and recovering downstream demand, particularly electronic chemicals [3][9] - Recommended companies include Wanhua Chemical, Hualu Hengsheng, Baofeng Energy, Longbai Group, Tongkun Co., Juhua Co., and Huate Gas [3][9]