China's Chemical Industry Index Rose Across the Board

As of November 10, China's chemical index continued to rise across the board, only one index rose for the oil sector.In the chemical sector, the chemical raw materials index rose by 0.34% cumulatively, the chemical machinery index rose by 0.24% cumulatively, the chemical pharmaceutical index rose by 3.38% cumulatively, and the pesticide and fertilizer index rose by 1.75% cumulatively. In the petroleum sector, the petroleum processing index fell by 2.41% cumulatively, and the oil extraction index fell by 4.41% cumulatively, and the oil trade index rose by 9.00% cumulatively.

In terms of energy, international crude oil prices fell sharply last week. This is mainly because China's export data fell short of expectations, triggering market concerns about demand; OPEC's increase in exports eased market concerns about tight supply; American Petroleum Institute data showed a sharp increase in crude oil inventories, raising expectations that market supply and demand conditions will be relatively loose. In addition, the market believes that the impact of the Palestinian-Israeli conflict on Middle East crude oil supply and exports will be limited, and the previous oil price bubble caused by rising geopolitical risks has basically subsided. As of November 10, the settlement price of the main West Texas Light crude oil futures contract on the New York Mercantile Exchange was US$77.37/barrel, down 4.51% from the previous month; the settlement price of the main Brent crude oil futures contract on the Intercontinental Exchange was US$81.61/barrel, down 6.64% from the previous month.

Looking at the spot market, the top five petrochemical products with the largest increase were liquid chlorine, with an increase of 7.39%, acrylic acid, with an increase of 7.1%, acetic acid, with an increase of 7.0%, propylene, with an increase of 4.35%, and octanol, with an increase of 3.1%; petrochemical products with the largest decrease were heavy soda ash, down 9.49%, vitamin K3, down 7.38%, light soda ash, down 7.32%, Brent, down 6.64%, and chloroform, down 5.88%.

Looking at the capital market, the top five listed chemical companies with the largest increase in Shanghai and Shenzhen stock markets last week were Xilong Chemical, rose 33.33%, Zhizheng Shares, rose 25.62%, ∗ST Rongtai, rose 21.00%, and Uni-President Shares, rose 20.29 %, Hongda Co., Ltd., rose 19.65%; the top five listed chemical companies with the largest decrease were Henghe Precision, down 13.70%, Tianlong Co., Ltd., down 11.19%, Xinfengming, down 6.80%, Dongfang Materials, down 6.70%, Lanfeng Biochemical down 6.36%.