CMS·2025-04-21 07:32Investment Rating - The report suggests a focus on the compound fertilizer industry due to its increasing concentration and potential benefits from tariff responses against the US [4] Core Viewpoints - The chemical sector saw a slight increase of 0.31% in the third week of April, lagging behind the Shanghai Composite Index by 0.88 percentage points [12] - Key stocks that performed well include Hongbaoli (+55.21%), Lingpai Technology (+28.07%), and Hongqiang Co. (+24.25%) [12] - The report highlights the significant price increases in trichloroethylene (+16.28%) and WTI crude oil (+7.67%) [20] - The report emphasizes the potential growth of companies like Xinyangfeng in the compound fertilizer sector, Chenghe Technology benefiting from tariff responses, Baofeng Energy with increasing production capacity, and Huangma Technology as a leader in specialty surfactants [4] Industry Performance - The chemical sector's dynamic PE is reported at 23.28 times, lower than the average PE of 14.76 times since 2015 [12] - In the third week of April, 20 sub-industries within the chemical sector increased, while 11 decreased, with textile chemicals (+6.07%) and modified plastics (+4.8%) leading the gains [15] - The report notes significant fluctuations in product prices, with liquid chlorine experiencing a drastic drop of -62.28% [20][39] Price and Spread Trends - The report lists the top five products with the highest weekly price increases, including trichloroethylene (+16.28%) and WTI crude oil (+7.67%) [20] - It also highlights the top five products with the largest price spread increases, such as ethylene glycol (+1154%) and naphtha (+32.58%) [39] Inventory Changes - Notable inventory changes include polyester chips (+17.14%) and polyester filament (+14.11%) showing significant increases [60]