Investment Rating - The report maintains an "Increase" rating for the petrochemical and chemical transportation sectors [5] Core Views - The third round of the fourth batch of central ecological environment protection inspections has been fully launched, which may impact the chemical industry [1] - The pesticide industry is undergoing capacity optimization due to stricter environmental regulations, with a potential price increase for chlorantraniliprole following an explosion at a major production facility [2] - The organic pigment industry is consolidating, with a positive outlook for high-performance organic pigments as domestic alternatives gain traction [3] - Investment recommendations include focusing on undervalued, high-dividend companies in the "three barrels of oil" and oil service sectors, as well as materials companies benefiting from domestic substitution trends [4] Summary by Sections 1. Chemical Product Market Review - The report highlights the current pricing trends for various petrochemical products, including Brent crude oil at $65 per barrel and WTI crude oil at $62 per barrel, with a notable decline in prices compared to previous months [9] - The report also provides detailed pricing for basic chemicals, fertilizers, and pesticides, indicating fluctuations in market prices [16][17] 2. Pesticide Industry Insights - The pesticide industry is seeing a reduction in capacity as non-compliant small enterprises exit the market, leading to a potential recovery in raw material prices [2] - The explosion at Youdao Chemical is expected to impact the supply of chlorantraniliprole, which may lead to price increases [2] 3. Organic Pigment Industry Analysis - The organic pigment sector is experiencing ongoing consolidation, with a shift towards high-performance organic pigments due to stricter environmental regulations and market saturation of traditional pigments [3] - The report suggests that companies with advanced production technologies will benefit from this trend [3] 4. Investment Recommendations - The report recommends focusing on companies in the oil and gas sector, materials benefiting from domestic substitution, and those in the fertilizer and pesticide sectors due to favorable monetary and fiscal policies [4]

2025 年 5 月 18 日 行业研究 需求持续向好，碳纤维龙头价格上涨 ——石化化工交运行业日报第 64 期（20250515） 要点 吉林化纤上调碳纤维产品价格，碳纤维行业均价已趋稳。根据中国证券报消 息，25 年 Q1，吉林化纤集团调整旗下碳纤维价格，明确自 2025 年 3 月 18 日起，湿法 1K 产品价格不变，3K/6K 产品价格上涨 5000 元/吨， 12K/25K/35K/50K 碳丝产品价格上涨 3000 元/吨，干法 T700 及 T800 级别 12K 碳丝产品价格上涨 3000 元/吨。与此同时，目前碳纤维均价的下跌已初 步趋缓，根据百川盈孚数据，24 年 12 月以来国内碳纤维价格维持在 83.75 元/kg 的水平。碳纤维产品价格下调、毛利水平的下降，致使碳纤维生产企 业的业绩承压，但较年初已有明显改善，截至 25 年 5 月 15 日当周，碳纤维 行业平均毛利润为-0.87 万元/吨，较年初增加 1.21 万元/吨。 碳纤维需求持续向好，风电、体育休闲、航空航天领域需求增速均显著。根 据赛奥碳纤维数据，2024 年全球碳纤维的需求量为 15.61 万吨，同比增长 35.7% ...