国投期货化工日报-20250805

Report Industry Investment Ratings - Urea: ★★★, implying a clear upward trend and a relatively appropriate investment opportunity [1] - Methanol: ★★★, indicating a clear upward trend and a relatively appropriate investment opportunity [1] - Pure Benzene: ★★★, suggesting a clear upward trend and a relatively appropriate investment opportunity [1] - Styrene: ★★★, showing a clear upward trend and a relatively appropriate investment opportunity [1] - Propylene: ★★★, representing a clear upward trend and a relatively appropriate investment opportunity [1] - Plastic: ★★★, meaning a clear upward trend and a relatively appropriate investment opportunity [1] - PVC: ★★★, denoting a clear upward trend and a relatively appropriate investment opportunity [1] - Caustic Soda: ★☆☆, indicating a bullish bias but limited operability on the trading floor [1] - PX: ★★★, suggesting a clear upward trend and a relatively appropriate investment opportunity [1] - PTA: ★★★, showing a clear upward trend and a relatively appropriate investment opportunity [1] - Ethylene Glycol: ★☆☆, meaning a bullish bias but limited operability on the trading floor [1] - Short Fiber: ★★★, representing a clear upward trend and a relatively appropriate investment opportunity [1] - Glass: ★★★, denoting a clear upward trend and a relatively appropriate investment opportunity [1] - Soda Ash: ★★★, indicating a clear upward trend and a relatively appropriate investment opportunity [1] - Bottle Chip: ★★★, suggesting a clear upward trend and a relatively appropriate investment opportunity [1] Report's Core View - The chemical futures market shows a mixed performance, with different products having different supply - demand relations and price trends [2][3][5] - Some products are affected by factors such as device restarts, seasonal demand changes, and inventory levels [2][3][5] Summary by Related Catalogs Olefins - Polyolefins - Propylene futures closed up at the end of the session, but still in a downward pattern. Downstream demand has some support, but supply is expected to increase [2] - Polyolefin futures closed up, with polyethylene having stable supply and some improvement in demand, while polypropylene is in a seasonal demand slump [2] Pure Benzene - Styrene - Pure benzene prices fluctuated narrowly, with supply rising and demand weak, but import pressure is expected to ease [3] - Styrene futures prices declined slightly. Overall, there is a slight decrease in supply and a slight increase in demand, but factory inventory may increase [3] Polyester - PX and PTA are in a weak - oscillating pattern due to falling oil prices and the demand off - season. Supply is increasing, and there is a need to watch for demand recovery and valuation repair [5] - Ethylene glycol rebounded with technical support and overseas device shutdown. Supply is expected to increase, and the upward drive is limited [5] - Short fiber and bottle chip prices follow raw materials. Short fiber may be more bullish in the medium - term, while bottle chip has long - term over - capacity pressure [5] Coal Chemical Industry - Methanol prices rose slightly due to coal cost news. Coastal ports are expected to accumulate inventory, but there may be a demand recovery in the peak season [6] - Urea futures prices rose sharply. The current supply - demand is loose, and attention should be paid to macro and export policies [6] Chlor - Alkali Industry - PVC prices rebounded at the end of the session. Cost support increased, but supply is expected to rise and demand is weak, so the price may oscillate weakly [7] - Caustic soda prices oscillated weakly. The comprehensive profit improved, but the long - term supply pressure remains, and the price is expected to be under pressure [7] Soda Ash - Glass - Soda ash prices rose sharply. Supply is high, and the market is facing a weak reality, but the price is expected to be difficult to break the previous low [8] - Glass futures prices were weak. Production and sales are insufficient, and the market has returned to reality trading [8]