基础化工行业周报：丁辛醇价格上涨，赛轮股东拟增持

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1]. Core Views - The global chemical industry is currently experiencing a bottoming out phase, with European chemical plants facing the highest costs globally. Due to rising costs and aging equipment, there are signs of accelerated capacity exit in Europe. Meanwhile, domestic capacity additions in China are reaching their peak, and future capital expenditures are expected to decline [1]. - Domestic demand in China is anticipated to continue recovering, with leading companies in the country solidifying their cost and efficiency advantages while expanding capacity. This expansion is expected to positively impact performance, as leading firms enter a long-term upward performance cycle [1]. - The report highlights four key investment opportunities: low-cost expansion, improving industry conditions, new materials, and high dividend yields [4][3]. Summary by Sections 1. Market Observation - The chemical industry is in a long-term growth phase, with a focus on the recovery of domestic demand and the performance of leading companies [3]. - The chemical industry index from Guohai Securities is at 95.73, a decrease of 0.41 from the previous week [2]. 2. Data Tracking - Key products such as butanol and MDI have seen price fluctuations, with butanol prices rising due to supply constraints and strong downstream demand [9][10]. - The report notes specific price changes for various chemicals, including a rise in the price of R22 refrigerant to 32,000 RMB/ton, and a decrease in titanium dioxide prices to 14,660 RMB/ton [16][21]. 3. Focus on Key Stocks - The report emphasizes the importance of leading companies in various segments, including Wanhua Chemical, Luyuan Tire, and others, which are expected to benefit from low-cost expansions and improving market conditions [1][4]. - Specific stocks are highlighted with their current prices and investment ratings, indicating a generally positive outlook for the sector [48].