Report Industry Investment Ratings - Two-olefins: ★☆☆ [1] - Polypropylene: ★☆★ [1] - Plastic: ★☆★ [1] - Pure benzene: ★☆★ [1] - Styrene: ★☆★ [1] - PX: ★☆★ [1] - PTA: ★☆☆ [1] - Ethylene glycol: ★☆★ [1] - Short fiber: ★☆☆ [1] - Bottle chips: ★☆★ [1] - Methanol: ★★★ [1] - Urea: ★★★ [1] - PVC: ★★★ [1] - Caustic soda: ★★★ [1] - Pure benzene: ★★★ [1] - Glass: ☆☆☆ [1] Core Views - The chemical market is affected by multiple factors such as oil prices, supply and demand, and policies, showing different trends in various sub - sectors [2][3][5] - Some products are expected to have better performance in the short - term or long - term, while others may face challenges and risks [5][6][7] Summary by Directory Olefins - Polyolefins - Propylene futures fluctuate narrowly, with low - stable prices, and strong market wait - and - see sentiment [2] - Polyethylene has enhanced cost support but faces resistance from downstream factories, and the market is digesting price increases [2] - Polypropylene prices rise slightly at the end of the month, but downstream new orders are not improving significantly, and procurement enthusiasm is low [2] Pure Benzene - Styrene - Pure benzene prices fall with oil prices, and there is a decline in both supply and demand. The focus is on port inventory accumulation [3] - Styrene supply decreases, demand is good, but high inventory limits its rebound space [3] Polyester - PX has cost support for PTA, but there are concerns about PTA inventory accumulation if oil prices stop rising [5] - Ethylene glycol's short - term fundamentals improve, but there is a long - term inventory accumulation expectation [5] - Short fiber has a good spot pattern in the short - term but may face inventory accumulation again [5] - Bottle chips' demand weakens, with inventory accumulation and pressure on processing margins [5] Coal Chemical Industry - Methanol ports may oscillate in the short - term and tend to be stronger in the long - term [6] - Urea is expected to oscillate strongly in the short - term due to improved supply - demand and cost support [6] Chlor - Alkali - PVC's inventory accumulation slows down, and it may operate in the bottom - range [7] - Caustic soda may operate at a low level in the range due to high inventory pressure [7] Soda Ash - Glass - Soda ash is in a low - level range, and it is advisable to short at high prices after a rebound [8] - Glass prices continue to decline, and the downward range may be limited at a low valuation [8]
国投期货化工日报-20251024
Guo Tou Qi Huo·2025-10-24 11:39