基础化工行业周报：特朗普当选或将加强IC出口管制，持续关注半导体材料国产化进展

Investment Rating - The report maintains an "Increase" rating for the basic chemical industry [5]. Core Insights - The re-election of Trump as U.S. President is expected to strengthen export controls on integrated circuits (IC), accelerating the domestic substitution process in China's IC sector [1]. - Global semiconductor sales have rebounded, boosting demand for semiconductor materials, with a projected 16% revenue growth in 2024 and over 10% in 2025 [2]. - The basic chemical sector has shown positive performance, with significant gains in various sub-sectors over the past week [3][7]. Summary by Sections Market Performance - The basic chemical sector saw a 7.0% increase over the past five trading days, ranking 11th among all sectors [3][7]. - Top-performing sub-sectors included rubber additives (+17.0%), lithium battery chemicals (+15.9%), and carbon fiber (+14.2%) [3][7]. Key Product Price Tracking - Notable price increases were observed in aluminum fluoride (+12.74%), refrigerant R134a (+9.59%), and synthetic ammonia (+7.64%) [11][12]. - The report also highlights a decline in prices for certain products, such as butadiene in Southeast Asia (-7.52%) and sulfur (-4.19%) [13]. Sub-industry Dynamics - The polyester filament market experienced slight price increases, but overall demand remains weak [14]. - The polyurethane sector is seeing a strong market for polymer MDI due to supply constraints from maintenance schedules at major manufacturers [14]. - The fertilizer market is characterized by cautious dealer activity, with some price rebounds in raw materials like urea [14][15].