Recently, the world’s first 1000 t / a carbon dioxide hydrogenation gasoline pilot plant, jointly developed by Dalian Institute of chemistry, Chinese Academy of Sciences and Zhuhai Fuyu Energy Technology Co., Ltd., was successfully driven in Zoucheng Industrial Park, Shandong Province, and produced clean gasoline products that meet the national VI standard.
On March 4, the price of Brent crude oil was US $118.11/barrel, up 20.61% week on week; WTI crude oil price was USD 115.68/barrel, up 26.30% on a weekly basis, and Brent WTI price difference was USD 2.43/barrel, down 61.67% on a weekly basis. On March 3, the price of LNG was 8292 yuan / ton, down 0.7% on a weekly basis; The average price of LNG in February was 6688 yuan / ton, up 35.1% month on month. On March 4, the spot price of Qinhuangdao Power Coal q5500 was 940 yuan / ton, unchanged on a weekly basis.
Both PX and PTA prices rose and the price difference fell: on March 3, the PX price index was US $1206 / ton, up 11.87% on a weekly basis; PX naphtha oil price difference was US $48.4/ton, down 62.8% on a week on week basis. On March 3, the spot price of PTA was 6190 yuan / ton, up 9.4% week on week; PTA price difference was 393 yuan / ton, down 17.1% week on week.
The prices of POY, DTY and FDY all rose, and the price difference fell: on March 4, the quotation of POY mainstream products was 8050 yuan / ton, up 3.2% on a weekly basis; The price difference of POY mainstream products was 884 yuan / ton, down 338 yuan / ton, or 27.7%. The quotation of FDY mainstream products was 8350 yuan / ton, up 2.1% on a weekly basis; The price difference of FDY mainstream products was 1184 yuan / ton, down 413 yuan / ton, or 25.9%. The quotation of mainstream products is 962.50 yuan / week, up from that of mainstream products; The price difference of DTY mainstream products was 2484 yuan / ton, down 338 yuan / ton, or 12.0%.
The price of propane rose, the price of propylene was flat, the price difference fell, and the price of n-butanol rose; The price and spread of acrylic acid fell, while the price and spread of butyl acrylate fell: on March 3, the price of propane was 6810 yuan / ton, up 11.46% on a weekly basis. Propylene price was 7700 yuan / ton, unchanged during the week; Propylene price difference was – 472 yuan / ton, down 228.26% on a weekly basis. The price of n-butanol was 10500 yuan / ton, up 300 yuan / ton on a weekly basis, or 2.9%. On March 3, the price of acrylic acid was 14200 yuan / ton, down 600 yuan / ton or 4.1% on a weekly basis; The price difference of acrylic acid was 8810 yuan / ton, down 600 yuan / ton, or 6.4%. The price of butyl acrylate was 15100 yuan / ton, with a decrease of 400 yuan / ton, or 2.6%; The price difference of butyl acrylate was 385 yuan / ton, with a decrease of 217 yuan / ton, or 36.1%.
Investment suggestion: the oil price approaches the $120 mark, the oil distribution continues to reach a new high since 2013, and the US oil has reached a new high since August 2008. Continue to focus on recommending CNOOC (Hong Kong stocks) with outstanding oil and gas resource attributes and high dividend yield, as well as Guanghui Energy Co.Ltd(600256) . Be optimistic about nylon 66 industrial chain and Yuanli Chemical Group Co.Ltd(603217) , China National Chemical Engineering Co.Ltd(601117) , Huafon Chemical Co.Ltd(002064) and Hangzhou Juheshun New Material Co.Ltd(605166) . Light raw materials, optimistic about PDH and ethane cracking to prepare ethylene industry chain, related targets: Satellite chemistry, Oriental Energy Co.Ltd(002221) . Biodiesel has a bright future and is optimistic about Zhejiang Jiaao Enprotech Stock Co.Ltd(603822) , Longyan Zhuoyue New Energy Co.Ltd(688196) . Focus on the private large-scale refining and chemical enterprises Jiangsu Eastern Shenghong Co.Ltd(000301) , Hengli Petrochemical Co.Ltd(600346) , Rongsheng Petro Chemical Co.Ltd(002493) , Hengyi Petrochemical Co.Ltd(000703) , which are currently at a relatively undervalued level. The filament industry will usher in a boom reversal. It is recommended that Xinfengming Group Co.Ltd(603225) with the strongest competitiveness of “PTA + filament” in the world and Tongkun Group Co.Ltd(601233) , the global leader of polyester filament. Continue to recommend Jiangsu Shuangxing Color Plastic New Materials Co.Ltd(002585) , in which the proportion of optical, photovoltaic film and other new materials business continues to increase.
Risk analysis: macroeconomic fluctuations, oil prices up or down than expected
