化工日报-20260112

Report Industry Investment Ratings - Propylene, polypropylene, plastic, short - fiber: ★★★, indicating a clear upward trend and relatively appropriate investment opportunities [1] - Pure benzene, styrene, PX, PTA, glass: ★★☆, suggesting a clear upward trend and the market is fermenting [1] - Ethylene glycol, methanol, urea, PVC: ★☆☆, showing a bullish trend but with limited operability on the trading floor [1] - Caustic soda: ★☆★, with unclear short - term trend and limited operability [1] - Soda ash: ★☆☆, with a bullish trend but limited operability on the trading floor [1] Core Viewpoints - The prices of various chemical futures are affected by multiple factors such as supply, demand, cost, and geopolitical risks. Different products have different trends and investment opportunities in the short, medium, and long - term [2][3][4] Summary by Directory Olefins - Polyolefins - Propylene futures rose, with supply support due to planned maintenance of local PDH plants and reduced inventory [2] - Plastic and polypropylene futures rose. Polyethylene had cost support and tight spot supply, while polypropylene had reduced supply due to more maintenance and stable demand from downstream [2] Pure Benzene - Styrene - Pure benzene futures rose due to cost and downstream factors, but faced difficulties in de - stocking in the long - term [3] - Styrene futures rose, with a tight supply - demand balance, falling port inventory, and a good export market [3] Polyester - PX and PTA demand will decline due to pre - and post - Spring Festival maintenance, but oil price recovery provides a rebound drive [4] - Ethylene glycol has an expected increase in domestic supply and a decrease in overseas supply, with short - term pressure and potential improvement in the second quarter [4] - Short - fiber demand is weak, and its price fluctuates with raw materials [4] - Bottle - grade polyester demand is weakening, with a supply - demand double - decline before the Spring Festival and long - term over - capacity pressure [4] Coal Chemical Industry - Methanol faced adjustment after a rise, with expected port de - stocking but weakening demand [5] - Urea prices were stable with a slight decline, with increased production and demand, and limited downward space [5] Chlor - Alkali Industry - PVC prices fluctuated due to export tax - rebate news, with a possible long - term increase in price center [6] - Caustic soda prices were weak, with limited upward space [6] Soda Ash - Glass - Soda ash faced supply pressure and limited demand, with a strategy of shorting on rebounds [7] - Glass had reduced supply and demand pressure, with opportunities for long - position entry after a long - term decline [7]