基础化工周报：MDI、TDI价格上升-20250810

Investment Rating - The industry investment rating is "Overweight," indicating an expected outperformance of the industry index relative to the benchmark by more than 5% in the next six months [66]. Core Insights - The average prices for pure MDI, polymer MDI, and TDI are 17,840, 15,920, and 16,396 CNY/ton respectively, with week-on-week increases of 800, 460, and 456 CNY/ton [2]. - The gross margins for pure MDI, polymer MDI, and TDI are 4,420, 3,477, and 4,855 CNY/ton respectively, reflecting week-on-week increases of 700, 285, and 263 CNY/ton [2]. - In the oil, coal, and gas sector, the average prices for ethane, propane, thermal coal, and naphtha are 1,131, 3,897, 495, and 4,129 CNY/ton, with week-on-week changes of -53, +10, +0, and -147 CNY/ton respectively [2]. - The average price for polyethylene is 7,780 CNY/ton, showing a decrease of 85 CNY/ton week-on-week [2]. - The average price for polypropylene remains unchanged at 7,000 CNY/ton [2]. - In the coal chemical sector, the average prices for synthetic ammonia, urea, DMF, and acetic acid are 2,423, 1,773, 4,025, and 2,212 CNY/ton respectively, with week-on-week changes of -75, +2, +10, and -12 CNY/ton [2]. Summary by Sections 2.1 Basic Chemical Index Trends - The report provides insights into the trends of the basic chemical index, indicating overall market movements [12]. 2.2 Polyurethane Sector - The polyurethane sector shows significant price increases for MDI and TDI products, with gross margins also improving [2][18][21]. 2.3 Oil, Coal, and Olefin Sector - The report highlights price fluctuations in the oil and gas sector, with specific attention to ethane and propane pricing dynamics [2][26][30]. 2.4 Coal Chemical Sector - The coal chemical sector is analyzed with a focus on price trends for synthetic ammonia, urea, and other key products, indicating varying profitability across the sector [2][42][53].