Tai Ping Yang Zheng Quan·2025-06-03 09:45Investment Rating - The report suggests a positive outlook for the refrigerant sector, recommending attention to companies such as Juhua Co., Sanmei Co., and Yonghe Co. due to expected demand growth and price increases in refrigerants [5]. Core Insights - The refrigerant market is entering a demand peak season, with prices and margins for major refrigerant types on the rise. The report highlights the impact of high summer temperatures and supply constraints due to quota policies [5][25]. - The explosion at Youdao Chemical has raised concerns in the pesticide industry, potentially affecting supply and prices of intermediates like K-amine, while stricter regulations may benefit leading companies with better safety and management practices [4][5]. Summary by Sections 1. Key Chemical Product Price Tracking - Notable price increases were observed in formic acid (6.52%), dichloromethane (4.36%), and acrylamide (4.55%), while TMA saw a significant decrease of 14.29% [13]. 2. Polyurethane - MDI prices decreased while TDI prices increased due to seasonal demand fluctuations and maintenance schedules at several production facilities [16]. 3. Agricultural Chemicals - Glyphosate prices rose slightly to 23,397 CNY/ton, supported by strong demand and reduced supply from some factories [18]. 4. Fluorinated Chemicals - Prices for R32 and R134a refrigerants increased, driven by seasonal demand and supply constraints. R32 is priced at 51,000 CNY/ton, and R134a at 48,500 CNY/ton [25][32]. 5. Phosphate Fertilizers - Prices for monoammonium phosphate and diammonium phosphate remained stable, with production pressures from high raw material costs [20][21]. 6. Urea and Potassium Chloride - Urea prices decreased to 1,863 CNY/ton due to changes in export policies and market dynamics, while potassium chloride prices remained stable at 2,956 CNY/ton [24].