基础化工周报：MDI价格走低

Investment Rating - The industry investment rating is "Increase" indicating an expected outperformance of the industry index relative to the benchmark by more than 5% in the next six months [73]. Core Insights - The average prices for pure MDI, polymer MDI, and TDI are 19130, 17990, and 12600 CNY/ton respectively, with changes of -170, -150, and 0 CNY/ton week-on-week. The gross margins for pure MDI, polymer MDI, and TDI are 5891, 5734, and -66 CNY/ton respectively, with week-on-week changes of -181, -224, and -413 CNY/ton [2]. - In the oil, coal, and gas olefin sector, the average prices for ethane, propane, thermal coal, and naphtha are 1199, 4526, 653, and 4549 CNY/ton respectively, with week-on-week changes of +54, +32, -2, and -32 CNY/ton [2]. - The average prices for synthetic ammonia, urea, DMF, and acetic acid in the coal chemical sector are 2620, 1832, 3960, and 2658 CNY/ton respectively, with week-on-week changes of -20, +1, -10, and +46 CNY/ton [3]. Summary by Sections 1. Basic Chemical Weekly Data Brief - The basic chemical index increased by 1.5% in the past week, with a year-to-date change of -1.0% [9]. - The average price of polyethylene is 8400 CNY/ton, with a week-on-week increase of 35 CNY/ton [2]. - The average price of polypropylene is 7300 CNY/ton, remaining unchanged week-on-week [2]. 2. Polyurethane Sector - The average price of pure MDI is 19130 CNY/ton, with a gross margin of 5891 CNY/ton [21]. - The average price of polymer MDI is 17990 CNY/ton, with a gross margin of 5734 CNY/ton [21]. - The average price of TDI is 12600 CNY/ton, with a negative gross margin of -66 CNY/ton [21]. 3. Oil, Coal, and Gas Olefin Sector - The average price of ethane is 1199 CNY/ton, with a week-on-week increase of 54 CNY/ton [28]. - The average price of propane is 4526 CNY/ton, with a week-on-week increase of 32 CNY/ton [28]. - The average price of naphtha is 4549 CNY/ton, with a week-on-week decrease of 32 CNY/ton [28]. 4. Coal Chemical Sector - The average price of synthetic ammonia is 2620 CNY/ton, with a week-on-week decrease of 20 CNY/ton [47]. - The average price of urea is 1832 CNY/ton, with a week-on-week increase of 1 CNY/ton [57]. - The average price of DMF is 3960 CNY/ton, with a week-on-week decrease of 10 CNY/ton [58].