（1）甘肃巨化新材料有限公司高性能硅氟新材料一体化项目 该项目是甘肃历史上规模最大的工业项目 ， 总投资4104655万元 ，于2024年1月28日正式开工，主要新建有 关硅氟新材料，拟新建主要装置有：年产36万吨工业硅、10万吨多晶硅、5万吨三氯氢硅、 12.5万吨含氟聚合物（氟橡胶（1万吨）、FEP （1万吨）、PTFE（5万吨）、PFA（0.5万吨）、PVDF（5万吨）） 、2.9万吨HFP、2万吨五氟丙烷（R245eb）、3万吨HCC-240 （R240）、8万吨 R152a（HFC-152a）、12万吨R142b（HCFC-142b）、7万吨VDF、12万吨四氯乙烷、3万吨四氯乙烯、19.5万吨R22、10.5 万吨TFE等装置；配套建设年产76万吨甲烷氯化物（一氯甲烷（36万吨）、二氯甲烷（13万吨）、三氯甲烷（27万吨））、15万吨AHF、30万吨氯化 钙、30万吨硫酸、24万吨电石、90万吨离子膜烧碱（综合利用项目自产废盐）等装置及相应设施。 （2）中海壳牌石油化工有限公司惠州聚碳酸酯项目26 万吨/年聚碳酸酯装置及部分配套项目 【DT新材料】 获悉，近日， 中国化学 发布公告，公司1-5月份 ...

国泰海通基础化工_企业调研邀请函 联合调研邀请函 尊敬的投资者朋友： 您好！ 2025 年供需关系变化复杂，基础化工行业会有怎样的变化？行业细分子行业众多， 各行业之间又有什么差异性的机会？ 报名方式：本次联合调研唯一指定报名邮箱：shenwei2@gtht.com 国泰海通研究所联合调研客户报名标准表头 单位、姓名、岗位、手机号、邮箱、报名接受人属于必须项 期待并衷心感谢您的参与！ 我们专程安排了知名上市公司高管开展座谈交流。 我们安排了小范围调研，将很荣幸地邀请到您的参与，具体细节如下： 6 月 20 日调研 调研议程：具体行程如下： （1）6 月 20 日：闰土股份 发起人：【沈唯】 邀请对象：国泰海通证券机构客户 此致 敬礼 国泰海通证券 2025 年 6 月 18 日 ...

芳烃橡胶早报 研究中心能化团队 2025/06/18 | P T A | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 日期 | 原油 | 石脑油 日本 | PX CFR 台湾 | PTA内盘现 货 | POY 1 50D/4 8F | 石脑油裂 解价差 | PX加工差 | PTA加 工差 | 聚酯毛利 | PTA平衡 负荷 | PTA负 荷 | 仓单+有 效预报 | TA基差 产销 | | | 2025/0 6/11 | 69.8 | 572 | 812 | 4825 | 6880 | 60.09 | 240.0 | 383 | 138 | 85.6 | 83.0 | 87441 | 220 | 0.25 | | 2025/0 6/12 | 69.4 | 585 | 818 | 4855 | 6925 | 76.09 | 233.0 | 392 | 167 | 85.6 | 83.0 | 87441 | 220 ...

直纺短纤负荷(周) 88. 90% 91. 30% 0. 02 涤纶短纤产销 -106.00% 56.00% 162. 00% 涤纱开机率(周) 67.00% 67.00% 0. 00 再生棉型负荷指数(周) 50. 40% 50. 40% 0. 00 涤纶短纤与纯涤纱价格 涤纶短纤现金流 14000 10000 10000 1800 (探偵) 太原始術· ■T325加工费(右轴) t T325年演出 震想坝金流 ·1.4D直纺条短 9000 9000 13000 1400 8000 8000 12000 1000 7000 7000 6000 11000 600 6000 5000 10000 200 5000 4000 -200 9000 + 3000 2021-01-01 2022-01-01 2023-01-01 2024-01-01 2025-01-01 2021-01-01 2022-01-01 2025-01-01 2023-01-01 2024-01-01 涤棉纱65/35 45S价格与利润 中空短纤价格与现金流 2500 10000 22500 4000 涂棉纱利润 泽棉纱65/35 45S ...

化工日报 | 2025-06-18 伊朗EG装置停车增多，EG价格上行 核心观点 市场分析 生产利润方面：乙烯制EG生产利润为-40美元/吨（环比-3美元/吨），煤制合成气制EG生产利润为117元/吨（环比+11 元/吨）。 库存方面：根据 CCF 每周一发布的数据，MEG 华东主港库存为61.6万吨（环比-1.8万吨）；根据隆众每周四发布 的数据， MEG 华东主港库存为56.4万吨（环比-3.4万吨）。上周主港实际到货总数10.8万吨，港口库存平稳略增； 本周华东主港计划到港总数10.0万吨，中性，港口库存预计平稳，关注伊朗装置停车下到港节奏变化。 整体基本面供需逻辑： 供应端，6月国内供应端陆续恢复，整体负荷不高，全月供需结构依旧表现良性去库，但 是仓单陆续注销流出后场内可流转现货将得到一定补充；海外供应方面，关注地缘冲突下伊朗装置停车后到港节 奏变化；需求端，瓶片工厂新增检修计划，需求预期偏弱。后续关注原料大幅反弹后聚酯的减产动作以及乙二醇 大装置重启进度。 策略 单边：短期偏多，关注中东地缘冲突进一步演变 跨期：无 跨品种：无 风险 原油价格波动，煤价大幅波动，宏观政策超预期 期现货方面：昨日EG主 ...

1. Report Industry Investment Rating - The report does not explicitly mention an overall industry investment rating. However, it provides individual outlooks for each energy and chemical product, including "strongly bullish", "bullish with fluctuations", "sideways", "bearish with fluctuations", and "strongly bearish" [4][277]. 2. Core Viewpoints of the Report - Geopolitical tensions in the Middle East, particularly the Israel - Iran conflict, have intensified, leading to increased volatility in oil prices and a bullish trend in the energy and chemical sector. Chemical products are experiencing a catch - up rally due to the persistent strength of crude oil prices [2][3]. - The supply of some chemical products such as methanol and urea has been affected by the Israel - Iran conflict. The polyester chain's raw material PTA has seen a rapid increase in basis, and the market is expected to be dominated by long - short configurations [3][4]. 3. Summary by Relevant Catalogs 3.1 Market Outlook - **Crude Oil**: Geopolitical risks have intensified, leading to greater price volatility. API data shows a significant drawdown in US crude oil inventories last week, but the gasoline drawdown was relatively small. The IEA monthly report has lowered the annual demand growth forecast and raised the supply forecast. Short - term, Middle East geopolitical concerns dominate price fluctuations [8]. - **LPG**: Cost - side support has increased, and PG has rebounded following crude oil [4]. - **Asphalt**: Crude oil is oscillating, and asphalt futures prices are also oscillating. The supply of heavy oil is expected to increase, which will put pressure on the asphalt crack spread. The current asphalt spot market is stronger in the north than in the south [10]. - **High - Sulfur Fuel Oil**: It is oscillating at a high level. The supply of heavy oil is expected to increase, and the demand for high - sulfur fuel oil as feedstock has decreased significantly. Although there is some support from Egypt's procurement, the overall supply - demand situation is bearish [10][12]. - **Low - Sulfur Fuel Oil**: The futures price follows the oscillation of crude oil. Currently, the supply and demand are both weak, and it is expected to maintain a low - valuation operation [13][14]. - **Methanol**: The Israel - Iran conflict has not subsided, and methanol is oscillating with a bullish bias. Iranian methanol supply disruptions can significantly affect China's methanol prices [25]. - **Urea**: Geopolitical disturbances and the start of domestic and foreign demand have led to a bullish trend in the futures market. Although the current supply is high, the start of domestic and foreign demand is imminent [26]. - **Ethylene Glycol (EG)**: Future arrivals are still limited, and EG will continue to be in a bullish pattern [19]. - **PX**: The supply - demand support has weakened, and short - term attention should be paid to crude oil trends. The supply capacity of Asian PX is steadily increasing, and the support effect of the domestic PX supply - demand fundamentals is slowing down [16]. - **PTA**: Supply is increasing while demand is decreasing, and it will follow crude oil in the short term. The overall performance of PTA is still good, but the polyester production cut pressure may form a negative feedback [16]. - **Short - Fiber**: It will continue to oscillate bullishly following its raw materials. The PF fundamentals show signs of marginal improvement, and the supply pressure has been alleviated [20][21]. - **Bottle Chips**: The industry is stable, and the downside space of bottle chip processing fees is limited. Bottle chip enterprises have announced maintenance plans, indicating that the current processing fees cannot be sustained [21][23]. - **PP**: With the uncertainty of Middle East disturbances, it is advisable to adopt a wait - and - see approach. The supply is still increasing, and the downstream demand is weak [30]. - **Plastic**: It will fluctuate with oil prices in the short term, and a wait - and - see approach is recommended. The current fundamentals are still under pressure, and the downstream demand is cautious [29]. - **Styrene**: As crude oil prices have declined, styrene is in a weak consolidation phase. The future rebound drive is not sustainable, and both supply and demand are bearish [17]. - **PVC**: The dynamic cost has increased, and PVC is oscillating. Although the supply - demand outlook is bearish, the cost center has shifted upward [32]. - **Caustic Soda**: With low valuation and weak supply - demand, it is in a bearish trend. In June, the supply and demand were both weak, and in July, supply is expected to increase while demand remains weak [32][33]. 3.2 Variety Data Monitoring 3.2.1 Energy and Chemical Daily Indicator Monitoring - **Inter - period Spreads**: The report provides the latest values and changes in inter - period spreads for various energy and chemical products, such as SC, WTI, Brent, etc. For example, the M1 - M2 spread of SC is 5, with a change of - 6 [34]. - **Basis and Warehouse Receipts**: It shows the basis, change values, and warehouse receipts for different products. For instance, the basis of asphalt is 156, with a change of 23, and the number of warehouse receipts is 94,510 [35]. - **Inter - variety Spreads**: The report presents the latest values and changes in inter - variety spreads, like 1 - month PP - 3MA, 1 - month TA - EG, etc. For example, the 1 - month PP - 3MA spread is - 308, with a change of 3 [36].

受行业周期、经济环境、市场竞争等多方因素影响， 今年以来世界化工巨头因精简瘦身所推进的业务变动、工厂关停等动作尤为频繁。 【DT新材料】 获悉，6月17日， 奥升德功能材料公司 宣布，决定开始有序关闭位于中国连云港市的己二胺生产工厂 。 奥升德 方面表示，这一决定是在对该工厂在不断变化的市场动态和监管环境下的长期可行性进行全面评估后所做出的。此外 ，公司在中国的其他业 务，包括苏州生产基地，将继续正常运营，并预计于今年下半年完成《美国破产法》第十一章流程，进一步优化业务结构。 据了解， 奥升德连云港己二胺生产工厂 是公司在美国以外的第一座化工生产基地，也是其在美国以外的最大投资项目。该项目位于江苏省连云港市徐 圩新区， 2022年1月签约、9月开工，2023年10月试产，2024年10月正式开业。 工厂一期投资约12.9亿元人民币，原计划年产20万吨己二胺，投 产后使奥升德全球己二胺产能提升了约50% 。工厂 关闭后，公司产能核心将回归美国本土基地。 奥升德 是全球最大的尼龙66一体化生产商， 在北美、欧洲和亚洲均设有全球生产基地 ， 产品广泛应用于汽车、电子电气、工业纤维、消费品等诸多 领域。2025年迄今 ...

光大期货能化商品日报 光大期货能化商品日报（2025 年 6 月 17 日） 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 周一油价高开低走，因地缘可能缓和施压油价，其中 WTI 7 月合 | | | | 约收盘下跌 1.21 美元至 71.77 美元/桶，跌幅 1.66%。布伦特 8 月 | | | | 合约收盘下跌 1.00 美元至 73.23 美元/桶，跌幅 1.35%。日内油价 | | | | 高低点振幅约为 8 美元/桶，市场波动急剧放大。SC2507 以 530.4 | | | | 元/桶收盘，下跌 10.5 元/桶，跌幅为 1.94%。美国总统特朗普证 | | | | 实，伊朗已通过中间人发出信号，表示希望缓和冲突。而当前以 | | | | 伊冲突远未走向和平，油价仍面临波动较大的格局。OPEC 月报 | | | | 显示，5 月 OPEC+原油日产量平均为 4123 万桶，比 4 月增加 18 | | | 原油 | 万桶，此前 OPEC+曾宣布增产。OPEC 将 2025 年全球原油需求 | 震荡 | | | 增速预期维持在 130 万桶/日； ...

直纺短纤负荷(周) 88. 90% 91. 30% 0. 02 涤纶短纤产销 28. 00% 134. 00% 162. 00% 涤纱开机率(周) 67.00% 67. 00% 0. 00 再生棉型负荷指数(周) 50. 40% 50. 40% 0. 00 涤纶短纤与纯涤纱价格 涤纶短纤现金流 14000 10000 10000 1800 (探偵) 太原始欲德 ■T325加工费(右轴) t325年演到价格 会想坝金流 ·1.4D直纺条短 9000 9000 13000 1400 8000 8000 12000 1000 7000 7000 6000 11000 600 6000 5000 10000 200 5000 4000 -200 9000 + 3000 2021-01-01 2022-01-01 2023-01-01 2024-01-01 2025-01-01 2021-01-01 2022-01-01 2025-01-01 2023-01-01 2024-01-01 涤棉纱65/35 45S价格与利润 中空短纤价格与现金流 2500 10000 22500 4000 涂棉纱利润 泽棉纱65/35 4 ...

装置检修动态:华东一套150万吨PTA装置目前已投料重启,该装置5.6附近停车检修。华东一套300万吨PTA装置已于近日停车检 修,预计10天附近。 投资咨询业务资格:证监许可【2012】31号 ITG国贸期货 | | | | | 聚酯数据日报 | | | --- | --- | --- | --- | --- | --- | | | | 国贸期货研究院 | | 投资咨询号:Z0017251 | 2025/6/17 | | | | 能源化工研究中心 | 陈胜 | | 从业资格号:F3066728 | | | 指标 | 2025/6/13 | 2025/6/16 | 变动值 | 行情综述 | | | INE原油(元/桶) | 529.9 | 541.6 | 11. 70 | 成交情况: PTA: PTA行情窄幅下跌,主因是下游聚酯瓶片大厂计 | | SC | PTA-SC(元/陣) | 931.2 | 830. 1 | -101.03 | 划联合减产,利空PTA需求,弱化了华东一套PTA装置 | | | | | | | 减产的影响。PTA现货流动性偏紧,现货基差偏强。 | | | PTA/SC(比价) | 1. ...