化工行业周报20251221：国际油价下跌，辛醇、草甘膦价格下跌-20251222

Investment Rating - The report rates the chemical industry as "Outperform" [2] Core Views - The report suggests focusing on undervalued leading companies in the industry, the impact of "anti-involution" on supply in related sub-industries, and companies in electronic materials and certain new energy materials amid rising prices [2][12] - The report highlights that the supply-side expansion peak has passed, and there is potential for recovery in industry prosperity [4] Industry Dynamics - The average price tracking 100 chemical products shows that 42 products increased in price, 37 decreased, and 21 remained stable during the week of December 15-21 [9][29] - International oil prices fell, with WTI crude oil futures closing at $56.52 per barrel, down 1.60%, and Brent crude oil futures at $59.82 per barrel, down 2.13% [30] - The report notes a decrease in the average price of isooctanol and glyphosate, with isooctanol averaging 6,612 CNY/ton, down 4.97% week-on-week, and glyphosate at 24,901 CNY/ton, down 1.58% week-on-week [31][32] Investment Recommendations - The report recommends focusing on leading companies with low valuations, such as Wanhua Chemical and Anji Technology, and suggests monitoring companies in emerging fields like semiconductor materials and new energy materials [12][19] - It emphasizes the potential for demand recovery supported by policies and the continuous optimization of the supply side, which could enhance the performance and valuation of leading companies [12][17]