化工日报-20250912

Report Industry Investment Ratings - Polypropylene: ★★★ [1] - Pure Benzene: ★★★ [1] - PX: ★★★ [1] - Ethylene Glycol: ★☆☆ [1] - Short Fiber: ★★★ [1] - Bottle Chip: ★★★ [1] - Methanol: ★★★ [1] - Urea: ★★★ [1] - PVC: ★★★ [1] - Caustic Soda: ★★★ [1] - Soda Ash: ★★★ [1] - Glass: ★★★ [1] Core Views - The olefin - polyolefin market has supply and demand imbalances, with price upward momentum limited [2] - The pure benzene - styrene market is affected by factors such as oil prices and downstream profitability, showing a weak performance [3] - The polyester market has different trends for each product, with price drivers mainly from raw materials and demand showing a mixed picture [4] - The coal - chemical market is expected to stabilize or continue weakly depending on the product, influenced by factors like inventory and demand [5] - The chlor - alkali market has supply - demand issues, with PVC and caustic soda showing different price trends [6] - The soda ash - glass market has high inventories and supply pressure, with prices expected to be in a certain pattern [7] Summary by Related Catalogs Olefin - Polyolefin - Propylene futures fluctuate around the 5 - day average, with limited upward momentum due to supply increase and weakening downstream acceptance [2] - Polyolefin futures decline, with polyethylene having low supply pressure but weak demand, and polypropylene facing supply pressure and slow demand recovery [2] Pure Benzene - Styrene - Pure benzene prices are weak due to factors like oil price decline, downstream poor profitability, and import pressure, but may improve in Q3 [3] - Styrene futures decline, with supply - demand support insufficient due to high inventory and weak new orders [3] Polyester - PX and PTA prices are affected by oil prices, with PTA price driven by raw materials, and downstream demand showing a positive trend but with some constraints [4] - Ethylene glycol is pressured in the far - month due to new device news, with near - month and spot being strong [4] - Short fiber is expected to be positive in the near - month, with price following cost, and bottle chip has limited processing - margin repair space [4] Coal - Chemical - Methanol prices are weak with high port inventory, but may stabilize with expected increase in MTO device operation and downstream stocking [5] - Urea prices hit new lows, with supply - demand remaining loose and the market expected to continue weakly [5] Chlor - Alkali - PVC prices may fluctuate weakly due to high supply pressure, weak demand, and high inventory [6] - Caustic soda prices may have a wide - range oscillation pattern due to factors like demand support and supply pressure [6] Soda Ash - Glass - Soda ash prices fluctuate narrowly, with high inventory and supply pressure, and it's advisable to short at high rebounds [7] - Glass prices may have a wide - range oscillation due to factors like inventory decline and potential macro - level positives [7]