Report Summary 1. Industry Investment Rating No information provided regarding the industry investment rating. 2. Core View The report focuses on the impact of trade - war uncertainties on upstream prices and provides an overview of the mid - view events and the industry situation. It also mentions that the credit spreads of the pharmaceutical and chemical industries have recently declined slightly [1][3]. 3. Summary by Directory Mid - view Events Overview - Production Industry: The National Energy Administration issued a notice to promote the development of private economy in the energy field, supporting private enterprises to invest in energy infrastructure projects such as nuclear power, hydropower, oil and gas storage facilities, and LNG receiving stations [1]. - Service Industry: As of April 27, the average pre - sale price of domestic civil aviation tickets for the "May Day" holiday dropped slightly to about 864 yuan, up 9.75% compared to 2019 and down 7.09% compared to 2024, showing a stable trend [1]. Industry Overview - Upstream: International oil prices are continuously fluctuating due to tariffs; prices of copper, zinc, and nickel are oscillating; cement and building material prices are continuously falling; egg prices are rising [2]. - Midstream: The PTA operating rate has rebounded, the PX operating rate has recently declined, and the operating rates of polyester and urea are at this year's high. The asphalt operating rate has reached a three - year low [2]. - Downstream: The sales of commercial housing in first - and second - tier cities are the same as last year and at a three - year low. The number of international flights has increased, while the number of domestic flights has decreased compared to the same period [2]. Market Pricing The credit spreads of the pharmaceutical and chemical industries have recently declined slightly [3]. Data Charts The report includes various data charts on coal consumption, inventory, operating rates of different industries, traffic congestion indexes, movie box office, flight execution, and real - estate transaction data [4]. Industry Credit Spread Tracking It provides the credit spread data of multiple industries, including past data from last year, a quarter ago, a month ago, last week, and this week, as well as the quantile data [44]. Key Industry Price Index Tracking It shows the price indexes of multiple industries, including the frequency, unit, update time, current value, year - on - year change, and the trend in the past 5 days [45].
关注上游价格受贸易战不确定性影响
Hua Tai Qi Huo·2025-04-29 05:50