Investment Rating - The industry investment rating is "Positive (Maintain)" [6] Core Viewpoints - The report highlights that the oil market continues to face pressure due to supply and geopolitical factors, with oil prices declining. However, it remains optimistic about leading companies with strong fundamentals and low correlation to oil prices, suggesting a bottom-fishing strategy. Additionally, the demand for agricultural and food supply chains is expected to remain robust due to the ongoing spring farming season and heightened global food security concerns [11][12] - Recommended companies include: - Wanhua Chemical: Core product MDI shows recent profit improvement, with new petrochemical and new material projects set to launch [11] - Royal Technology: A leader in specialty polyether, has entered a growth phase again after addressing previous macro demand pressures [11] - Jinhui Industrial: A leader in maltol and sucralose, with signs of marginal changes at the bottom of its main product cycle [11] - Yuntianhua: A leading company in the domestic phosphate chemical industry, with sustainable phosphate rock market conditions [11] Summary by Sections Oil and Chemical Price Information - As of March 7, Brent oil price decreased by 3.9% to $70.36 per barrel. The increase in Iraqi oil exports and OPEC+ plans to gradually increase production from April have contributed to this decline. As of February 28, U.S. commercial crude oil inventories stood at 433.8 million barrels, with a weekly increase of 3.6 million barrels [12] - Among 188 monitored chemical products, the top three price increases this week were for liquid chlorine (up 23.3%), natural gas (up 15.2%), and sulfuric acid (up 12.9%). The top three price decreases were for acrylic acid (down 7.7%), acrylonitrile (down 7.4%), and lysine (down 6.5%) [13][14]
基础化工行业周报:本周聚乙烯价格坚挺,硫磺-硫酸继续上涨
东方证券·2025-03-10 12:33