Group 1 - The core point of the article is that China Petroleum & Chemical Corporation (Sinopec) has awarded a procurement contract for a high-pressure forged steel valve to Zhonghe Suval Technology Industrial Co., Ltd. for its industrial demonstration unit in Hainan [1][2] - The procurement announcement was published on January 12, 2026, by Sinopec's Material and Equipment Department (International Business Company) [2] - Zhonghe Suval Technology has participated in 23,676 bidding projects and has made investments in 15 companies, indicating its active role in the industry [1] Group 2 - The procurement contract is part of a project involving the direct steam cracking of crude oil to produce ethylene, highlighting the company's focus on advanced petrochemical processes [1] - Zhonghe Suval Technology holds 37 trademark registrations, 580 patents, and 6 copyrights, showcasing its strong intellectual property portfolio [1] - The company has obtained 42 administrative licenses, reflecting its compliance and operational capabilities within the industry [1]

1月14日，国务院国资委网站通过提供各中央企业薪酬信息披露网页链接的方式，披露了所监管的80多家央企负责人2024年度薪酬信息。这是国资央企 持续抓好重点领域信息公开、回应公众关心关切的重要举措。 中国石油化工集团有限公司负责人2024年度薪酬情况 根据党中央、国务院深化国有企业负责人薪酬制度改革有关要求和国务院国资委相关规定，现将中国石油化工集团有限公司负责人2024年度薪 酬情况披露如下。 以下为部分央企负责人2024年度薪酬信息： 1.上表披露薪酬为公司负责人报告期内全部应发税前薪酬（不含发放的以往年度绩效年薪）。 2.本次披露薪酬按照国务院国资委经营业绩考核年度口径统计。 中国南方电网有限责任公司企业负责人2024年度薪酬情况 信息来源: 发布时间2026-01-07 | | | | | 2024年度从本公司获得的税前报酬情况 | | | 单位:人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 社会保险、企 | | 是否在股 东单位或 | 在关联方 | | 姓名 | 职务 | 任职起止时间 | | 业年金、补充 | ...

1. Report Industry Investment Ratings - Crude Oil: Bearish Rebound [1] - LPG: Bearish Rebound [1] - L: Bearish Rebound [1] - PP: Bearish Rebound [1] - PVC: Bearish Consolidation [1] - PX/PTA: Range - bound [2] - Ethylene Glycol (MEG): Cautiously Bearish [2] - Methanol: Bullish Direction [2] - Urea: Bullish - biased Consolidation [3] - Natural Gas: Cautiously Bearish [6] - Asphalt: Bearish Rebound [6] - Glass: Bearish Continuation [6] - Soda Ash: Bearish Continuation [6] 2. Report's Core Views - The geopolitical risks in the energy and chemical industries have been priced in, and the subsequent geopolitical trends in the Middle East and South America should be closely monitored. The overall supply in the industry is relatively abundant, and the demand is affected by seasonal factors and geopolitical situations. Some products are in a bearish rebound or consolidation state, while others are facing downward pressure in the medium - to long - term [1][2][6]. 3. Summaries According to Related Catalogs Crude Oil - **Market Performance**: Overnight, oil prices rebounded, with WTI up 1.19%, Brent up 1.60%, and SC up 2.34% [8][9]. - **Basic Logic**: In the short - term, Middle East geopolitical tensions and Trump's tariff threat led to a rebound in oil prices. In the long - term, due to oversupply during the off - season and the expansion of OPEC + production, oil prices are under downward pressure [10]. - **Fundamentals**: Geopolitical uncertainties in the Middle East led to a short - term rebound in oil prices. Iran's current floating crude oil inventory is about 170 million barrels. India's fuel consumption in December reached a record high. As of January 2, US crude oil inventory decreased, while gasoline, distillate, and strategic crude oil reserve increased [11]. - **Strategy Recommendation**: In the medium - to long - term, OPEC +'s production increase will push oil prices into a low - price range. Pay attention to the production changes in non - OPEC + regions. In the short - term, there is a rebound, but in the long - term, it is under pressure. Focus on the SC range of [445 - 460] [12]. LPG - **Market Performance**: On January 14, the PG main contract closed at 4308 yuan/ton, up 1.22% month - on - month [14]. - **Basic Logic**: In the short - term, it rebounds with oil prices, and in the long - term, oil prices are under pressure. The refinery's production decreased, but the downstream chemical demand has resilience, and the inventory decreased [15]. - **Strategy Recommendation**: From a supply - demand perspective, the oversupply of upstream crude oil will lead to a downward shift in the price center. In the short - term, there is uncertainty in oil prices, and in the long - term, it is bearish. Focus on the PG range of [4200 - 4300] [16]. L - **Market Performance**: The L05 contract had a certain increase, and the basis was repaired to the flat - water state [18]. - **Basic Logic**: The cost support improved, and the basis was repaired. The proportion of Iranian imports increased, and the planned device maintenance increased, with expected production decline. The inventory of Sinopec and PetroChina decreased, and the market is expected to continue to repair profits [20]. - **Strategy Recommendation**: Focus on the L range of [6800 - 6950] [20]. PP - **Market Performance**: The PP05 contract rose slightly [22]. - **Basic Logic**: Short - term geopolitical disturbances and the rush to export of acrylonitrile downstream led to the strengthening of acrylonitrile. The supply - demand is weak, and the demand enters the off - season in January. The PDH profit is compressed, increasing the expectation of maintenance [24]. - **Strategy Recommendation**: Pay attention to PDH device dynamics and focus on the PP range of [6550 - 6750] [24]. PVC - **Market Performance**: The V05 contract showed a slight decline [25]. - **Basic Logic**: The cancellation of export tax rebates led to a short - term expectation of a rush to export. The domestic start - up rate increased, and the supply - demand is in a weak state. The cost support is strengthening, increasing the expectation of future maintenance [27]. - **Strategy Recommendation**: Focus on the V range of [4800 - 5000] [27]. PX/PTA - **Market Performance**: TA05 closed at 5108 yuan/ton, and the processing fee improved [28]. - **Basic Logic**: The valuation is not low, the supply - side device changes are small, and the overall planned maintenance volume is high. The downstream demand is relatively good but expected to weaken. The cost - side PX is in a weak balance. There is a slight accumulation of inventory from January to February, but the outlook is positive from the perspective of production and demand [29]. - **Strategy Recommendation**: The supply - demand is in a tight balance. Pay attention to the opportunity to buy on dips for the 05 contract. Focus on the TA05 range of [5100 - 5200] [30]. Ethylene Glycol (MEG) - **Market Performance**: The EG05 contract decreased slightly [31]. - **Basic Logic**: The valuation is low. The domestic device load has increased, and the downstream demand is relatively good but expected to weaken. The port inventory is increasing, with inventory accumulation pressure in January. It lacks upward driving forces and follows cost fluctuations in the short - term [32]. - **Strategy Recommendation**: Stop losses on short positions and pay attention to opportunities to short on rebounds. Focus on the EG05 range of [3830 - 3899] [33]. Methanol - **Market Performance**: The main contract increased with reduced positions [36]. - **Basic Logic**: The valuation is not low. The domestic and overseas methanol device loads have increased. The supply - side pressure still exists, and the demand has slightly improved. The cost support is weak and stable. The supply - demand is slightly loose, but the downward space is limited [36]. - **Strategy Recommendation**: Pay attention to the opportunity to buy on dips for the 05 contract. Focus on the MA05 range of [2270 - 2310] [38]. Urea - **Market Performance**: The UR05 contract showed a certain increase [39]. - **Basic Logic**: The absolute valuation is not low. The overall start - up load has increased, and the demand is weak. The winter storage is progressing steadily, but the positive impact is limited. The domestic supply - demand is loose, and there is a spring fertilizer - using trading expectation [40]. - **Strategy Recommendation**: Pay attention to the opportunity to buy on dips for the 05 contract, but the rebound height is restricted by the increasing supply - side pressure. Focus on the UR05 range of [1780 - 1830] [42]. Natural Gas - **Market Performance**: On January 14, the NG main contract closed at 3.419 US dollars/million British thermal units, up 0.29% month - on - month [45]. - **Basic Logic**: The supply is relatively abundant, and the demand support has decreased recently. The inventory in the US has decreased. In the winter, the demand has support, but the supply pressure leads to downward - pressured prices [46]. - **Strategy Recommendation**: Focus on the NG range of [2.725 - 3.370] [46]. Asphalt - **Market Performance**: The main contract rose, and the valuation is gradually returning to normal [47]. - **Basic Logic**: The cost - side oil price rebounded, and the geopolitical situation in South America and the Middle East should be monitored. The supply - demand is generally loose, and the demand has entered the off - season [49]. - **Strategy Recommendation**: The valuation has returned to normal, and the supply - side uncertainty has increased. Pay attention to geopolitical risks. Focus on the BU range of [3150 - 3250] [50]. Glass - **Market Performance**: The FG05 contract showed a weak shock [52]. - **Basic Logic**: The inventory of traders in Shahe is at a record high, and the supply - demand is weak. The daily melting volume has increased slightly, and the profit of three processes has turned negative. The weak demand in the real estate market restricts the upward space [54]. - **Strategy Recommendation**: Focus on the FG range of [1070 - 1120] [54]. Soda Ash - **Market Performance**: The SA05 contract showed a weak shock [56]. - **Basic Logic**: The factory inventory has increased counter - seasonally. The demand for heavy soda ash is insufficient, and the supply is expected to be loose in the medium - to long - term. The real estate demand is weak, and the cold - repair expectation of float glass has increased [58]. - **Strategy Recommendation**: Focus on the SA range of [1180 - 1230] [58].

| 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 600309 | 万华化学 | 3.33% | 10.47% | | 601857 | 中国石油 | 2.34% | 7.63% | | 000792 | 盐湖股份 | 2.11% | 6.44% | | 600028 | 中国石化 | -0.34% | 6.44% | | 600938 | 思想起 | 2.10% | 5.22% | | 600160 | 巨化股份 | 1.75% | 4.51% | | 000408 | 藏格矿业 | 2.31% | 3.82% | | 600143 | 金发科技 | -0.91% | 3.69% | | 600426 | 华鲁恒升 | 2.22% | 3.31% | | 600989 | 宝丰能源 | 1.16% | 3.27% | （以上所列股票仅为指数成份股，无特定推荐之意） 截至2026年1月15日9:56，中证石化产业指数强势上涨1.76%，成分股广东宏大上涨7.06%，云天化上涨4.90%，兴发集团上涨4.58%，华峰化学，万华化学等 个股跟涨。石化ET ...

1. Report Information - Report Title: Asphalt Daily Report [1] - Report Date: January 15, 2026 [2] 2. Investment Rating - No investment rating information provided. 3. Core View - The asphalt market is relatively balanced in terms of supply and demand. The center of the market will rise compared to before the Venezuelan event. Attention should be paid to the dynamics of the raw material end. [6] 4. Summary by Directory 4.1 Market Review and Operation Suggestions - Futures Market: The opening price of BU2603 was 3168 yuan/ton, the closing price was 3168 yuan/ton, the highest was 3190 yuan/ton, the lowest was 3151 yuan/ton, the increase was 1.38%, and the trading volume was 19.91 million lots. The opening price of BU2604 was 3159 yuan/ton, the closing price was 3172 yuan/ton, the highest was 3193 yuan/ton, the lowest was 3152 yuan/ton, the increase was 1.47%, and the trading volume was 2.31 million lots. [6] - Spot Market: The spot prices of asphalt in North China and Shandong increased, while those in other regions remained stable. The continuous rise in crude oil prices supported the atmosphere of the asphalt spot market. [6] - Supply: Venezuelan oil resources are prioritized for the US market, which supports the domestic asphalt supply. Qilu Petrochemical and Jinling Petrochemical plan to resume asphalt production on the weekend, but Shandong Shengxing Petrochemical and Dongming Petrochemical will switch to producing residual oil, and Maoming Petrochemical has no plan to resume production. It is expected that the operating load rate of asphalt plants will continue to decline. [6] - Demand: The rigid demand for asphalt in the South will remain relatively stable. The construction season in the North has basically ended, and the rigid demand is coming to an end. The waterproofing demand remains stable. Affected by the oil price and sentiment, the speculative demand is expected to weaken. [6] 4.2 Industry News - East China Market: The mainstream transaction price of 70A asphalt was 3180 - 3230 yuan/ton, remaining stable compared to the previous working day. The increase in international oil prices and asphalt futures supported the asphalt price in terms of cost and market sentiment, but the market demand remained weak and stable, and the spot supply was relatively abundant, so the price lacked the driving force for an increase. [7] - South China Market: The mainstream transaction price of 70A asphalt was 3130 - 3250 yuan/ton, remaining stable compared to the previous working day. The rigid demand for asphalt in Hunan and Guangxi was relatively stable, but the rigid demand in some areas of Guangdong declined slightly, and the shipment volume of some warehouses decreased. However, there were no low - price ship cargo resources available for warehousing, and the quotations of traders remained stable. [7] 4.3 Data Overview - The report provides multiple charts, including asphalt daily operating rate, Shandong asphalt comprehensive profit, South China asphalt spot price, Shandong asphalt basis, asphalt cracking, asphalt social inventory, asphalt manufacturer inventory, and asphalt warehouse receipts. [10][14][17][22]

近期，国际油价持续上涨。不过，油价上涨带来的成本支撑无法同步传导至所有下游品种，纯苯、苯乙 烯等下游品种价格走势分化，而纯苯—苯乙烯（BZ—SM）价差的博弈也成为市场关注的焦点。 紫金天风期货分析师汤剑林认为，纯苯当前走强是多重驱动叠加的结果。一是BZ—SM价差头寸的止盈 动作。作为衡量二者相对强弱的关键指标，BZ—SM价差自去年12月中旬以来持续上涨，截至1月13日 已从1200元/吨涨至1715元/吨。套利资金获利了结后，纯苯价格表现优于苯乙烯。二是原油价格上涨直 接传导至纯苯，溢价幅度与中东局势紧密挂钩。三是近期两套苯乙烯装置将复产，作为纯苯核心下游， 其产能利用率回升将带动纯苯需求增加，形成需求预期支撑。 不过，汤剑林提醒，纯苯市场基本面偏弱的格局尚未改善。纯苯供应稳定，需求疲软，港口库存持续累 积并突破历史高点，成为制约其价格持续上涨的隐形压力。 与纯苯不同，苯乙烯基本面更为扎实，这也是BZ—SM价差持续走扩的核心原因。 据汤剑林介绍，苯乙烯利多近期集中释放：出口订单落地、供应端多套装置仍在检修、库存持续下降。 不过，基本面好转的同时，苯乙烯下游"三S"行业（ABS、PS、EPS）受高价格影响，或出 ...

扬子石化多措并举增产增销航煤产品 2025年10月，扬子石化对2#航煤加氢装置进行检修，更换高压换热器管束和高压空冷器、清洗换热器 等，确保了装置的安全、稳定、长周期运行，实现了航煤的稳产增产。同时，岗位员工认真巡检，及时 消除隐患，保持了装置的安全平稳运行，实现了航煤的稳产增产。 创新高！全年航煤产量196.6万吨 在技术难关攻克方面，扬子石化针对航煤增产成立攻关小组，细化原油加工方案，优化工艺流程，利用 模拟软件计算收率，优化调整关键工艺参数，消除增产难题。例如，针对2#加裂化装置航煤泵高负荷运 行振动大、泵出口管线流量受限等难题，该公司实施航煤脱瓶颈技术改造项目，在不停工情况下航煤泵 出口增设1条跨线。 1月12日，扬子石化芳烃部员工正在进行操作。 通讯员 郭仕辉 雷鸣 南京日报/紫金山新闻记者 董家训 摄 南报网讯（通讯员 陶炎 记者 徐宁） 记者昨天从扬子石化获悉，该公司紧抓市场机遇，开展技术攻关， 增产增销航煤产品，2025年全年航煤产量196.6万吨，同比增产12.8%，创历史新高。 "去年，我们紧密围绕航煤产品增产保供，结合生产装置特点，制定了详细的航煤增产方案。通过控制 反应转化率、降低回流 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 来源：能源研发中心 日报观点 【1】盘面表现：BU 2603主力合约日内高位震荡，最终收盘价3168，较昨日收盘价+0.88%，盘中最高 触及3190，最低3151。按收盘价算近7天累计+1.1%。次月合约2606较昨日收盘价+0.60%。近月涨幅高 于远月合约。 【2】现货市场：①山东重交沥青市场价为3100元/吨，环比上涨0.6%，7天累计+1.0%。山东基差为-68 元/吨，7天累计-5元/吨。②华东重交沥青市场价为3200元/吨，环比持平。华东基差为+32元/吨，7天累 计+35元/吨。 【3】裂解变化：①BU-Brent录得-159元/吨，7天累计+47元/吨。当日BU主力收盘+0.9%；Brent-0.6% （以下午3点收盘成交价计算）。 美伊地缘形势升级给予油价向上反弹动力，沥青跟涨，但幅度有限。短期伊朗地缘下油价面临看涨情 绪，裂解差持观望看待。 【4】基本面变化：据隆众现货报价统计，华东重交沥青市场低端价连续4个交易日维稳在3150元/吨， 市场高端价当日委3230元/吨，环比上涨0.3%，在5个交易日维稳在3220元/吨后上 ...

这次中国石化和中国航油的合并，背后的故事可不简单。 你相信吗？ 曾经在各自领域"独霸一方"的中国石化和中国航油，竟然能在2024年头一回联手，开启央企重组的新纪元。 这种看似"天作之合"的操作，不只是企业间的简单合并，而是把整个能源行业的牌局都重新洗了一遍。 专家们早早就预测，央企重组能带来的效益，远比行业平均水平高出不少。 中国企业改革与发展研究会的最新数据也显示，五年来能源和交通领域的重组效果最为显著，让人不得不佩服央企的"大手笔"。 国资委的战略布局，实际上是在为中国整体能源升级铺路。 用网友的话来说，这简直就是"强强联合，冲向世界舞台"。 如果你还记得2021年，那年中化集团和中国化工集团在北京合体，成立中国中化控股有限公司，全球化工市场都为之一震。 这样的重组，不仅让中国企业在国际市场上更有话语权，还打破了国外巨头在高端化工领域的壁垒。 说回这次重组的核心亮点，就是让航空燃料的生产和供应彻底连成一条线。 原来中国石化干自己的，中国航油管运输，效率总是差点意思。 现在一合并，所有流程变得顺畅，航油价格也更有竞争力。 最新航运协会数据显示，2023年中国大机场的航油加注效率提升了12%，这背后靠的正是资 ...

Core Viewpoint - Since the "14th Five-Year Plan," China National Petroleum Corporation (CNPC) has accelerated the construction of a "refining and chemical materials" industry structure, implementing the "New Materials Acceleration Project" to enhance capacity release and new product development, achieving a continuous 50% growth in new materials production over four years, thus facilitating a rapid transformation [1] Group 1: Industry Structure and Strategy - CNPC has been addressing the structural contradictions of "low-end surplus and high-end shortage" in the chemical industry, intensifying competition and focusing on product innovation and technological breakthroughs [1][2] - The company has established a new materials division, elevating the development of new materials to a status equal to refining and basic chemicals, thereby optimizing its organizational structure and enhancing innovation capabilities [2] Group 2: Capacity and Production Growth - CNPC has set up several new materials bases across the country, including in Dongshanzi, Lanzhou, Jilin, and Liaohe, creating a capacity layout that covers both eastern and western regions [2] - The company has successfully launched key projects, such as the transformation upgrades at Jilin and Guangxi Petrochemical, and is steadily advancing high-end polyolefin and ethylene projects [2] Group 3: Product Development and Market Position - During the "14th Five-Year Plan," CNPC has significantly expanded its product development matrix, with the number of new product grades increasing by 83% compared to the end of the "13th Five-Year Plan" [3] - The company has made breakthroughs in high-performance, high-value new materials, achieving self-sufficiency in critical material supply chains, with products like carboxylated nitrile rubber and PETG copolyester being developed domestically [4]