This week’s Chemical Market Overview
This week, Shenwan chemical rose 3.18%, outperforming the Shanghai and Shenzhen 300 index by 2.79%. In terms of targets, covid-19 vaccine intermediates, potassium fertilizer, lithium extraction and some agrochemical targets have performed well; The targets of some new energy chemical materials with strong early performance are under pressure. Under the background of downward expected rate of return + lack of main line, we believe that the subject matter with high performance certainty + certain valuation and cost performance in 2022 will be the main line, and the market may turn more stones at non mainstream tracks.
Portfolio recommendation
Sichuan Em Technology Co.Ltd(601208) 、 Anhui Jinhe Industrial Co.Ltd(002597) 、 Jiangsu Flag Chemical Industry Co.Ltd(300575) 、 Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) 、 Wanhua Chemical Group Co.Ltd(600309)
Big events of the week
The second phase acrylonitrile project of Sibang Petrochemical was successfully started. On December 29, the 260000 T / a acrylonitrile (III) plant of phase II propane industrial chain project of sperbang Petrochemical was successfully started at one time and produced qualified products. The overall capacity of sperbang acrylonitrile increased from 520000 T / A to 780000 T / A, ranking first in China and third in the world, reducing the import rate by 25%. It plays an important role in promoting the development of clean energy such as wind power.
Rongsheng Petro Chemical Co.Ltd(002493) EVA device was successfully fed and successfully produced photovoltaic products. The 300000 t / a EVA unit of the “40 million T / a refining and petrochemical integration project (phase II)” invested and constructed by the company’s holding subsidiary Zhejiang Petrochemical in Zhoushan green petrochemical base was successfully put into operation on December 28, 2021. At present, photovoltaic material products have been successfully produced, with VA content of 28%, product brand v6110s and stable production.
Satellite chemistry issued an announcement on foreign investment to deepen the layout of green new materials. On December 30, the company announced that it plans to invest in the construction of green chemical new material industrial park in Jiangsu Lianyungang Port Co.Ltd(601008) Xuwei new area, with a total investment of about 15 billion yuan. The construction contents mainly include an annual output of 200000 tons of ethanolamine, 800000 tons of polystyrene and 100000 tons of polystyrene α- Olefins and supporting Poe, 750000 T / a carbonate series production units and related supporting projects are implemented step by step in three phases.
Wanhua Chemical Group Co.Ltd(600309) accelerate the layout in the field of fine chemicals and open up new growth space. According to the company’s news on December 29, Wanhua Chemical Group Co.Ltd(600309) invested 50 million yuan to establish Wanhua Chemical Group Co.Ltd(600309) (Yantai) Fine Chemical Co., Ltd., which not only covers the traditional projects such as the manufacturing of basic chemical raw materials and special chemical products, but also covers the sales of new catalytic materials and additives; Sales of food additives; Sales of feed additives; Manufacturing and sales of bio based materials. For the fine chemical products, the company focuses on the manufacturing and sales of bio based materials, which is consistent with the degradable PLA products under research in the early stage of the company. According to the company’s layout, the company is already building a PBAT project, and the PLA project is in the pilot stage. It is expected that the company will gradually expand its layout in the field of bio based material manufacturing with PLA as the entry point.
Risk statement
The epidemic affects the demand outside China, the crude oil price fluctuates violently, and the change of trade policy affects the industrial layout.
