Price tracking comments on key products this week
WTI oil price rose 8.2% to USD 71.67/barrel this week.
Key injection sub industries: silicone decreased by 14.5%, calcium carbide PVC decreased by 3.1%, ethylene decreased by 2.5%, light soda ash decreased by 9.8%, heavy fiber decreased by 7.4%, viscose staple fiber decreased by 0.4%, viscose long fiber increased by 0.5%, VA decreased by 4.4%, ve decreased by 2.8%, solid lysine decreased by 2.1%, polymerized MDI increased by 1.6%, pure MDI decreased by 2.9% and TDI increased by 1.4%, Spandex fell by 2.8%, rubber by 2.6%, urea by 2.4%, DMF by 1.3% and ethylene glycol by 0.8%.
The top five sub industries of this week’s growth: maleic anhydride (30.6%), yellow phosphorus (13.9%), butane (12.7%), propane (11.8%) and diammonium phosphate (9.2%).
Maleic anhydride: the price of maleic anhydride rose sharply this week, with a cumulative increase of about 3000 yuan / ton. The main reasons for the sharp rise in the price of maleic anhydride in this round are as follows: 1 International oil prices continued to rise at the close, providing impetus for the rise of commodities. 2. Although the supply of maleic anhydride has been improved in the early stage, the supply of maleic anhydride in China is still tight. Today, there are parking conditions due to the epidemic. This week, the listing price of Sinopec East China pure benzene is now 6450 yuan / ton, and the cost support of benzene maleic anhydride is stable.
Yellow phosphorus: today, the mainstream price of yellow phosphorus market continues to rise. The main reason is that the low-end price continues to tighten, and some enterprises sign a few orders to explore the price, which continues to raise the price focus. In terms of demand, the downstream enterprises started stably, maintained the just needed consumption of yellow phosphorus, and continued to drive the signing and delivery of goods. In terms of supply, the inventory is low, the main source of goods sends orders, the spot supply is insufficient, and a small amount of goods in the market can receive orders. Most yellow phosphorus enterprises mainly ship orders, adjust the quotation in a narrow range and wait for the future.
Market performance of chemical sector this week
The basic chemical sector rose 1.03% over last week, and the Shanghai and Shenzhen 300 index fell 0.61% over last week. The basic chemical sector outperformed the market by 1.64 percentage points, ranking 15th in all sectors. According to Shen Wan’s classification, the basic chemical sub industries increased significantly: potash fertilizer 12.04%, polyurethane 5.92%, tire 5.54%, paint and ink manufacturing 5.29%, and daily chemical products 5.19%.
Key sub industries and company views
(1) The global supply of chemical products is gradually restored, and it is expected that the price trend of subsequent chemical products will be differentiated. We are optimistic about the chemical fiber and pesticide industry chain benefiting from external demand. In the chemical fiber industry chain, the leader of viscose staple fiber Tangshan Sanyou Chemical Industries Co.Ltd(600409) is recommended. In the agrochemical industry chain, the first is the leader of subdivided fields Jiangsu Yangnong Chemical Co.Ltd(600486) and Lier Chemical Co.Ltd(002258) with industrial chain integration and outstanding competitive advantages in technology and single products ； Second, it is suggested to pay attention to the preparation Enterprise andomai, as well as Limin Group Co.Ltd(002734) and Anhui Guangxin Agrochemical Co.Ltd(603599) . (2) Domestic substitution is accelerating, and we are optimistic about new material companies that are expected to grow at a high speed. International automakers are overweight electric vehicles, and the short-term impact of the epidemic does not change the medium and long-term trend of the industry. We continue to recommend Shenzhen Capchem Technology.Ltd(300037) lithium battery material leaders with better performance than expected. The Sixth National Day of diesel vehicles promotes the high growth of zeolite demand, and the OLED business has entered the performance release period, so we recommend Valiant Co.Ltd(002643) . (3) we are optimistic about subdivided leaders for a long time Wanhua Chemical Group Co.Ltd(600309) 、 Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) 、 Zhejiang Nhu Company Ltd(002001) 。
Risk warning: oil price fluctuates sharply; Major safety accidents; Uncertainty of environmental protection policy
