基础化工行业周报（2026.2.21-2026.2.27）：中东局势升级，关注化工品涨价

Investment Rating - The report maintains an "Overweight" rating for the basic chemical industry [9] Core Views - The basic chemical index outperformed the CSI 300 index by 6.07 percentage points, with a weekly increase of 7.15% [14][15] - Key sub-industries showing significant growth include phosphate fertilizers and phosphate chemicals (21.01%), titanium dioxide (13.49%), nitrogen fertilizers (12.28%), compound fertilizers (11.82%), and soda ash (8.73%) [15] - The geopolitical situation in the Middle East is impacting oil supply, which may lead to price increases in chemical products, particularly methanol [7][8] Market Trends - The basic chemical index increased by 7.15% from February 21 to February 27, outperforming the CSI 300 index [14] - The top-performing sub-industries during this period were phosphate fertilizers and phosphate chemicals, titanium dioxide, nitrogen fertilizers, compound fertilizers, and soda ash [15] Chemical Price Trends - The top five products with the highest price increases last week were liquid chlorine (50.00%), dispersant black ECT 300% (22.22%), industrial-grade lithium carbonate (20.35%), battery-grade lithium carbonate (19.62%), and crude phenol (13.59%) [23][24] - The products with the largest price declines included pure MDI (-10.20%), NYMEX natural gas (-6.23%), calcium carbide (-5.60%), LDPE (-3.35%), and concentrated nitric acid (-3.33%) [23][24] Investment Recommendations - The report suggests focusing on several key sectors: refrigerants, chemical fibers, high-quality companies like Wanhua Chemical, Hualu Hengsheng, and agricultural chemicals [8][44] - Specific companies to watch include Jinshi Resources, Juhua Co., Sanmei Co., Yonghe Co., Huafeng Chemical, and Xinfa Group [8][44]