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Chemical industry: Spandex to maintain upward boom, rubber recent difficult to improve

2017-5-13 Read 1018

  10 of the 125 products monitored this week have risen in price, and 55 have fallen in price. Were the top: increase of domestic propylene (7100 yuan / ton, +2.60%) and trichloroethylene (4800 yuan / ton, +2.13% (PP), domestic 9350 yuan / ton, +1.63% (CFR), Southeast of ethylene 1075 U.S. dollars / ton, +1.42% (40D), spandex 37000 yuan / ton, down row +1.37%); before respectively: styrene butadiene rubber (1502 to 13100 yuan / ton, -9.03%), adipic acid (9250 yuan / ton, -7.96%), acetone (5075 yuan / ton, -7.31%), WTI (45.52 U.S. dollars / barrel, domestic natural rubber (-7.05%), 12850 yuan / ton, -6.55%).


  PTMEG- spandex: this week, PTMEG and MDI market prices were maintained at 16300 yuan / ton, 26250 yuan / ton, the recent cost support and downstream demand stability, spandex boom continues upward. Spandex prices have risen slightly this week, with the latest price at 37000 yuan / ton, up 1.37% from last week. Since the beginning of the year, the spread between spandex and raw materials has continued to expand, and in the near future, it has remained at a high level for a long time. The profitability of spandex production enterprises is expected to continue to improve.


  Benzene - adipic acid: due to the recent crude oil prices continue to fall, driven by the adipic acid raw material benzene prices down, the Zhou Chunben's latest price is 6250 yuan / ton, the chain fell 3.10% last week. The price of adipic acid has fallen sharply this week, with the price of raw materials falling and the demand for the slurry industry continuing to slump, with the latest price at 9250 yuan / ton, down 7.96% from last week. Due to stable supply of adipic acid and downstream slurry demand continues to slump, it is expected that the recent price of adipic acid will remain downward trend.


  Butadiene - synthetic rubber: this week, foreign butadiene continued to fall, domestic butadiene in the temporary contraction of the supply situation, the price remained at 11000 yuan / ton unchanged. At present, the demand of downstream tire industry downturn, various kinds of rubber products prices continue downward trend, synthetic rubber products will continue to decline, styrene butadiene rubber and butadiene rubber this week fell 9.03% and 3.96% respectively.


  Investment advice.


  In 2017, we are very optimistic about the price continued to improve coal chemical products, the main product is urea and methanol, the proposals concern Hualu Hengsheng (12.670, 0.12, 0.96%) (600426) and Yang coal chemical (2.860, -0.03, -1.04%) (600691). Due to the gradual transformation of the industry's own supply and demand pattern, the organic silicon industry is expected to usher in reverse performance, it is recommended to focus on Xin'an shares (7.590, 0.05, 0.66%) (600596). Vitamin B1 and vitamin K3 prices continue to rise, the company's operating performance will continue to improve, recommended brothers Technology (12.740, 0.03, 0.24%) (002562).


  This month the key recommendation of the stock (6.350, -0.08, -1.24% hongbaoli), Haley (6.910, -0.12, -1.71%).


  With 120 thousand tons of propylene was completed, the company gradually create a comprehensive chemical new material group, recommended hongbaoli (002165). The curtain cloth performance improved, plastic floor prospects, recommend Haley (002206).


  Risk warning: downstream demand continues to slump.