化工及新能源材料行业周报：叶酸价格快速上涨

Investment Rating - The industry investment rating is "Recommended" indicating a positive outlook for the sector in the next six months [3][25]. Core Insights - The price of folic acid has surged by 57.14% to 330 CNY/kg this week, with a monthly increase of 87.50%. This price rise is attributed to low inventory levels and tight supply from major manufacturers [3][11]. - Baofeng Energy's new project in Inner Mongolia has successfully produced qualified products, marking a significant step towards full production. The project is expected to maintain a cost advantage and alleviate financial pressure [3][14]. - The chemical industry is entering a phase of stock competition, with domestic leaders expanding while facing challenges from overseas tariffs and anti-dumping investigations. Long-term prospects favor domestic leaders with cost advantages [4][15]. Summary by Sections Industry Price Trends - The basic chemical index fell by 0.63% from November 18 to November 22, 2024, while the Shanghai Composite Index dropped by 1.91%. The chemical sector outperformed the broader market [10]. - Folic acid prices have shown significant increases, with a year-on-year rise of 81.82% [19]. Company Highlights - Key recommended companies include Wanhua Chemical, Hualu Hengsheng, Baofeng Energy, Longbai Group, Satellite Petrochemical, Juhua Co., Huat Gas, and Yake Technology [4][17]. Market Outlook - The semiconductor industry is expected to recover gradually in 2024, benefiting from national policy support and significant potential for import substitution [4][15]. - The potassium chloride market is currently cautious, with prices averaging 2502 CNY/ton, reflecting a slight decline. Long-term supply is expected to remain sufficient [13].