Investment Ratings - Urea: Not clearly defined - Methanol: ★☆☆ (One star, indicating a bullish/bearish bias but limited operability on the trading floor) - Pure Benzene: ★★★ (Three stars, indicating a clearer bullish/bearish trend and relatively appropriate investment opportunities) - Styrene: ★★★ - Polypropylene: ★★★ - Plastic: ☆☆☆ (White star, indicating a relatively balanced short - term bullish/bearish trend and poor operability on the trading floor) - PVC: ★★☆ (Two stars, indicating a clear bullish/bearish trend and the market is fermenting) - Caustic Soda: ★★☆ - PX: ★★★ - PTA: ★★★ - Ethylene Glycol: ★★★ - Short - fiber: ☆☆☆ - Glass: ★★★ - Soda Ash: ★★★ - Bottle Chip: ★★☆ - Propylene: ★★★ [1] Core Views - The olefin - polyolefin market has different trends. Propylene futures are under pressure, and polyolefin futures are boosted by macro factors but face supply and demand challenges [2]. - The pure benzene - styrene market is affected by news of potential over - capacity solutions, with significant price fluctuations in pure benzene and a consolidating pattern in styrene [3]. - The polyester market, including PX, PTA, ethylene glycol, short - fiber, and bottle chips, is influenced by over - capacity news, with different supply - demand and price trends [5]. - The coal - chemical market, including methanol and urea, has its own supply - demand characteristics and is affected by market sentiment and export news [6]. - The chlor - alkali market, including PVC and caustic soda, shows different price trends due to supply - demand differences [7]. - The soda ash - glass market is in a weak situation, with high inventory in the soda ash industry and continued decline in glass prices [8]. Summary by Category Olefin - Polyolefin - Propylene futures closed up but below the 5 - day moving average, with sufficient supply and insufficient downstream follow - up. Polyolefin futures were boosted by macro factors. Polyethylene has supply pressure and slow - growing demand, while polypropylene has supply support but slow - recovering demand [2]. Pure Benzene - Styrene - Pure benzene prices fluctuated greatly due to news of potential over - capacity solutions. There is a possibility of seasonal improvement in the third quarter and pressure in the fourth quarter. Styrene futures are in a consolidating pattern, with cost support but limited downstream demand [3]. Polyester - PX and PTA prices rebounded due to over - capacity news. There is an expected improvement in PX supply - demand in the third quarter. Ethylene glycol has profit - repair potential. Short - fiber and bottle chips are driven by raw materials, with different supply - demand situations [5]. Coal - Chemical - Methanol prices stopped falling and rebounded, with high port inventory and weak coastal supply - demand. Urea prices are affected by market sentiment and export news, with a loose short - term supply - demand situation [6]. Chlor - Alkali - PVC is in a weak operation, with increased export pressure and high inventory. Caustic soda is strong in the short term due to replenishment demand but faces long - term supply pressure [7]. Soda Ash - Glass - Soda ash prices dropped significantly, with high inventory throughout the industry. Glass prices continued to decline, with weak demand and high production capacity [8].
化工日报-20250820
Guo Tou Qi Huo·2025-08-20 12:16