农业上游回升，化工中游分化

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The upstream of the agricultural industry is recovering, while the middle - stream of the chemical industry is showing differentiation. The production and service industries are affected by various factors such as geopolitical conflicts and inflation [1] 3. Summary by Related Catalogs 3.1. Production and Service Industries - Production Industry: 32 IEA member countries agreed to release 400 million barrels of oil from their emergency reserves. Japan plans to release national oil reserves as early as the 16th, and Germany will release 2.4 million tons of national oil reserves [1] - Service Industry: In February, the US CPI increased by 2.4% year - on - year, and the core CPI increased by 2.5% year - on - year. There is a risk of inflation rebound in the US, and the market expects the Fed to cut interest rates in July [1] 3.2. Industry Overview 3.2.1. Upstream - Energy: The prices of liquefied natural gas and international crude oil are continuously rising [2] - Agriculture: The prices of eggs and palm oil are recovering [2] - Non - ferrous Metals: The price of aluminum has a slight recovery [2] 3.2.2. Middle - stream - Chemical Industry: The PX operating rate remains high, while the polyester operating rate is low [3] - Energy: The coal consumption of power plants is at a low level [3] - Infrastructure: The operating rate of road asphalt is at a low level [3] 3.2.3. Downstream - Real Estate: The sales of commercial housing in first - and second - tier cities have a seasonal decline [4] - Service: The number of domestic flights has decreased [4] 3.3. Key Industry Price Indicators - Agriculture: The spot prices of corn, eggs, palm oil, and cotton have increased to varying degrees, while the average wholesale price of pork has decreased [35] - Non - ferrous Metals: The spot price of aluminum has increased, while the prices of copper, zinc, and nickel have decreased [35] - Ferrous Metals: The spot prices of螺纹钢, iron ore, and wire rod have increased [35] - Non - metals: The spot prices of natural rubber and glass have increased, and the China Plastic City price index has also increased significantly [35] - Energy: The spot prices of WTI crude oil, Brent crude oil, and liquefied natural gas have increased, while the coal price has decreased slightly [35] - Chemical Industry: The spot prices of PTA, polyethylene, urea, and soda ash have increased [35] - Real Estate: The cement price index has decreased, while the building materials comprehensive index has increased slightly, and the concrete price index has remained unchanged [35]