化工行业周报：实体清单落地加速自主可控，煤化工景气或触底，百菌清再次调涨

Investment Rating - The report maintains a positive outlook on the chemical industry, indicating a favorable investment rating [1]. Core Insights - The report highlights the acceleration of the implementation of the entity list, emphasizing the importance of self-sufficiency in the semiconductor industry. It notes that the recent adjustments in pricing for certain chemical products, such as DMF and pesticides, suggest a potential bottoming out of the coal chemical sector [1][4]. - The report also discusses the macroeconomic outlook for the chemical industry, with expectations of stable energy prices and a gradual recovery in demand across various segments [4]. Summary by Sections Industry Dynamics - The report provides a macroeconomic assessment of the chemical industry, indicating that global oil supply is expected to become looser, with Brent crude oil prices projected to remain around $70 per barrel in Q4 and $65 per barrel in 2025. Coal prices are anticipated to decline in the medium to long term, alleviating pressure on downstream sectors [4][8]. Chemical Products Pricing - The report notes that DMF prices have rebounded by 400 yuan per ton from their lows, and the overall coal chemical product capacity expansion is expected to slow down significantly in 2025, indicating a potential recovery in market conditions [1][4]. - The price of the pesticide product "Bai Jun Qing" has been raised by 10-20%, reflecting a supply-demand mismatch in the agricultural sector [1]. Investment Recommendations - The report suggests focusing on leading suppliers in the materials sector, such as Yake Technology and Dinglong Co., as well as advanced packaging materials companies like Lianrui New Materials and Shengquan Group. It also recommends monitoring key players in the agricultural chemicals sector, including Yangnong Chemical and Runfeng Co. [1][4]. - The report emphasizes the importance of traditional cyclical stocks and specific companies within the chemical sector, such as Wanhua Chemical and coal chemical companies like Hualu Hengsheng and Baofeng Energy, as well as firms in the agricultural and fertilizer sectors [1].