金九银十！SAF、UCO持续上涨，关注有机硅协同反弹机会

Investment Rating - The report maintains an "Outperform" rating for the basic chemical industry [2] Core Viewpoints - The basic chemical sector has underperformed the market recently, with a weekly increase of 2.9% compared to the Shanghai Composite Index's 3.5% and the ChiNext Index's 5.9% [6][18] - The report highlights the continuous rise in SAF (Sustainable Aviation Fuel) and UCO (Used Cooking Oil) prices, indicating a potential phase of simultaneous volume and price increases [30] - The organic silicon industry is expected to see a rebound due to collaborative efforts to stabilize prices and reduce low-price competition [31] Summary by Sections 1. Core Viewpoints - Policies aimed at improving supply-demand dynamics are expected to create investment opportunities in the chemical sector [15] - The chemical industry is entering a new long-term prosperity cycle, driven by improved domestic supply-side conditions and increased global market share [15] 2. Overall Performance of the Chemical Sector - The basic chemical industry index has increased by 2.9% in the week of August 15-22, 2025, ranking 15th among 31 industry sectors [18] - Year-to-date, the basic chemical industry index has risen by 22.5%, outperforming the Shanghai Composite Index by 8.4% [18] 3. Individual Stock Performance in the Chemical Sector - Out of 424 stocks in the basic chemical sector, 327 stocks rose while 96 fell during the week [27] - The top-performing stocks included Feilu Co. (+33.2%) and Qide New Materials (+31.8%) [27] 4. Key News and Company Announcements - SAF prices reached $2270 per ton, up 150 USD from the previous week, while UCO prices reached 8000 CNY per ton [30] - The report notes the upcoming organic silicon industry seminar aimed at promoting healthy development within the sector [30]