Scycle, concern the high utilization and environmental protection to bring supply contract two main lines: the demand is unclear under the macro background, should seek out their own tight supply and demand, support industry boom up subsectors, we believe that the environmental protection and high capacity utilization is two big main line.
Scycle industry differentiation, only part of the real prices edged up under the influence of environmental protection, we continue to focus on pesticide (Yang agriculture chemical, hui feng) and tire (point) in the past with the worst run and the tyres fertilizer (si 5 huatai) three child industry. Other recommendations focus on coal glycol and urea lu the hang seng (China), polyester filament (constant force, rongsheng petrochemical, tung kun), soda ash (double loop technology, poetic chemical), viscose (poetic chemical, nanjing chemical fiber), polyurethane (Chinese) chemicals, carbon black (black).
Saperiodic product value has room to improve localization rate of import substitution, in the wave of the global electronic industries transferring to China and the national chip localization trend, the direction of electronic chemicals is a star in the field of chemical industry, including super net, photoresist, electronic gases, high purity reagents new membrane materials and epoxy encapsulation materials, etc. Other promising directions include the use of salt in the release of a second child diaper acrylic acid and ES fiber.
Some of the chemical companies in the non-periodic products stand out: the majority of the new materials companies are highly valued, and they are optimistic that the valuation is less than 40 times of the wangrun shares and the flying kai materials. We also recommend that focus on lithium electricity soft bag (nylon) science and technology, lithium-ion battery electrolyte (Shi Dasheng degrees), food additives (JHJ industrial, vinegar), wet electronic chemicals (Jiang Hua micro), PI film materials (new era), rail material day park (new material), edible salt, and gas (yunnan).
Spetrochemical seek investment opportunities in the oil price shocks, the current is the golden age of refining enterprise, high degree of integration of enterprise profit is prominent, and the relatively low price of intermediates, increasingly strict environmental requirements and product upgrading pressure accelerating out backward production capacity is an important window for reform and industrial upgrading. We expect a narrow range of oil prices in the medium to long term, excluding the sudden impact of the war, and the oil price center in the 50-55 range. It is recommended to focus on sinopec, Shanghai petrochemical, tong kun, lube oil (longpan technology, Compton), etc.
this week, oil prices rose slightly, the market appeared positive transfer: the recent news that Libya and Nigeria production may be limited, and the russians to production attitude change, for the oil injection is good; U.S. oil inventories fell and European oil inventories fell, but a renewed surge in U.S. crude oil production left the oil market with a surplus of worries. Crude oil demand in China has boosted oil bulls' bullish sentiment, pushing up oil prices.
In the process of continuous improvement of the chain, the PTA market is going up: the price of PX is rising slightly upstream, and the PTA cost is supported. The downstream polyester production and sales, together with the decline of the social inventory, the production and marketing preference, the PTA demand will continue to be good.
The price of the noil product was up and down: the first five of this week's price increases were TDI, methionine, PTA, calcium pantothenic and n-butyl alcohol, and the first five were acetic anhydride, tetrachloroethylene, R22, shunding rubber and urea.
Risk tip: risk of falling product price, lower than expected environmental protection policy, etc.