After decades of extensive and rapid development, most molecular industries in the domestic chemical industry have overcapacity, especially those with low product competitiveness, serious low-end homogeneity, high risk and high pollution. On the contrary, domestic petrochemical upstream refining products, fine chemicals with high technical content, functional polymer materials and green processes with low emission and zero pollution are relatively short. Therefore, the next round of capacity expansion of chemical industry has great opportunities in three directions: improving self-sufficiency rate, industrial upgrading, and platform development of industrial chain integration. Industry current supply and demand pattern tends to balance, the high economy is still expected to continue.
After five consecutive months of downward adjustment, the chemical industry PPI index has re-entered the upward range since March, driven by oil prices, and reached 5.5 per cent year-on-year in May. Since the beginning of this year, the industry fixed asset investment completion showed signs of recovery year-on-year, which means that the industry prosperity continues to improve, especially the chemical fiber industry supply growth trend is obvious.
In the first half of the year, the profit performance of PTA, silicone, acetic acid, soda ash, adipic acid and other products was outstanding, and the product price increased greatly mainly in acetic acid, silicone, methanol, phosphorus chemical industry, soda ash, nitrogen fertilizer (including compound fertilizer), polyurethane, PA6, olefin and other sub-industries. PTA, bisphenol A, ammonium nitrate, soda ash, adipic acid and other products with obvious price spread in the first half of the year are mainly concentrated. It is expected that the performance of related listed companies will be outstanding in the half year.
