化工行业周报：丙烯酸等本周涨幅居前，赛轮ESG表现获肯定

Investment Rating - The report does not explicitly state an investment rating for the chemical industry Core Insights - The chemical industry has experienced a downturn, with the basic chemical sector declining by 6.29% during the week of December 27, 2024, to January 3, 2025, while the Shanghai Composite Index fell by 5.55% and the Shenzhen Component Index by 7.16% [4][6] - Key products such as acrylic acid saw a price increase of 3.90%, while other products like butadiene and cyclohexane experienced significant declines of -6.59% and -5.97%, respectively [19][20] - The report highlights the recognition of Sailun Group's ESG performance, achieving a silver rating from EcoVadis, placing it in the top 15% globally [4] Market Performance Review - The basic energy prices as of January 2, 2025, include WTI crude oil at $71.72 per barrel (up 1.27% week-on-week) and Brent crude at $74.64 per barrel (up 1.10%) [12] - The domestic LNG price was reported at 4527 CNY per ton, down 0.64% week-on-week, while thermal coal was priced at 662 CNY per ton, up 0.61% [12] - The report indicates a significant drop in various sub-sectors of the basic chemical industry, with chemical fiber down 9.33% and rubber down 7.6% [8][9] Key Industry Tracking Tire Industry - As of January 3, 2025, the average price of natural rubber was 16400 CNY per ton, down 2.91% week-on-week but up 22.32% year-on-year [22] - The operating rate for full steel tires was 59.11%, down 3.13 percentage points from the previous week, while half steel tires were at 78.60%, down 0.56 percentage points [26] Agricultural Chemicals - The average price of urea was reported at 1694 CNY per ton, down 3.31% week-on-week, reflecting a weak demand environment [32] - The potassium chloride market remained stable with a price of 2516 CNY per ton [32] Coal Chemical Industry - The methanol market price slightly decreased to 2289 CNY per ton, with an industry operating rate of 74.53%, up 1.21 percentage points [45] Fine Chemicals - The market for sweeteners like sucralose showed stable supply but weak demand, with prices remaining steady [51] - The refrigerant market maintained high prices, with R22 at 33000 CNY per ton and R134a at 42500 CNY per ton, reflecting a stable supply-demand balance [58]