Core Viewpoint - The stability of costs for anode materials in power batteries is under dual pressure from raw material prices, particularly for low-sulfur petroleum coke and coconut shell carbon, which have seen significant price increases due to supply shortages and rising demand [2][3][4]. Group 1: Raw Material Price Trends - The price of low-sulfur petroleum coke, a key raw material for artificial graphite, has increased significantly since July, with a monthly average price rise exceeding 240 RMB per ton [2]. - Major oil refineries in Northeast China have announced further price increases for petroleum coke starting August 1, with increases ranging from 50 to 150 RMB per ton [2]. - Coconut shell carbon, essential for sodium-ion battery hard carbon anodes and new silicon-carbon anodes, has also seen a sharp price rise due to supply issues, with imported prices exceeding 8000 RMB per ton as of July 2025 [3][4]. Group 2: Impact on Downstream Production - The rising raw material prices have directly impacted downstream production costs, leading to increased cash flow pressure for some small and medium-sized graphite electrode manufacturers [3]. - Leading graphite electrode companies have raised prices for ultra-high power products by 3% to 5% in response to increased costs [3]. - The price surge occurs at a critical time for silicon-carbon anodes, which are expected to enter mass production, potentially affecting their cost control and industrialization process [4]. Group 3: Market Structure and Trends - Despite the challenges, artificial graphite maintains a dominant position in the market, with a total shipment of 1.29 million tons of anode materials in the first half of 2025, a 37% year-on-year increase [5]. - Artificial graphite shipments reached 1.17 million tons, a 47% increase, capturing 91% of the market share, while natural graphite shipments declined by 23% [5]. - The market is still exploring new anode materials, as evidenced by the increasing market share of alternative materials, despite the volatility in raw material prices [5].

光大证券指出，中国石油着力打造五大新材料基地，蓝海高端聚烯烃新材料项目等重点项目推进高端化 工新材料产业发展，产品广泛应用于航空航天、汽车、光伏等领域。2024年中国石油化工新材料产量同 比增长49.3%，形成ABS、乙丙橡胶等一批"巨人"产品，石蜡、低硫石油焦等产品市场份额稳居国内第 一。公司通过成立新材料研究院，在茂金属聚乙烯催化剂、尼龙66合成等关键技术上取得突破，支撑炼 化新材料产业转型升级。 在地缘政治仍存不确定的前提下，中长期原油供需格局仍具备景气基础，在长期主义视角下，持续坚定 看好板块。此外，宏观经济恢复提振化工需求，长期来看化工品产能出清利好龙头企业，看好大炼化、 煤化工、乙烯盈利向好。 没有股票账户的投资者可关注国泰中证油气产业ETF发起联接A（020405），国泰中证油气产业ETF发 起联接C（020406）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配 ...

转自：新华财经 新华财经北京4月29日电（记者袁波、梁冬、王金金）2013年，中国石油云南石化有限公司（以下简称云南石化）作为国家第四条能源进口通道——中缅油 气管道的战略配套项目在昆明开工建设。2017年8月，云南石化顺利投产运行并实现安全稳定生产，自此云南告别了"缺油少气"的历史。八年来，云南石化 累计加工原油8100多万吨，实现工业总产值4100多亿元，同时直接、深度参与国际油气市场合作，"引进来"的原油扩大到11个国家，"走出去"的产品覆盖周 边国家，以油气为纽带融入海上"丝绸之路"建设。 "坚决把能源饭碗端得更牢、更稳、更好！"中国石油云南石化执行董事、党委书记鲍永忠接受新华财经专访时说，云南石化持续推动科技创新和产业创新融 合发展，着力发展新质生产力，积极开展全流程智能控制关键技术应用，极大地推动了云南石化技术经济指标的进步，在产品收率、能耗等关键生产指标方 面达到业内先进水平，并不断巩固智能工厂先天优势，用"人工智能+"为企业高质量发展赋智增能。 在园区生产一线调研。） 记者：近年来，云南石化在提升油品品质方面取得了哪些成效？市场反响如何？ 鲍永忠：云南石化以"绿色发展、奉献能源，为客户成长增动 ...