In 2023, the petrochemical sector ushered in a good start

Last week (January 2~6), the 2023 petroleum and chemical sector index rose across the board and ushered in a good
start.

In terms of chemical industry, the chemical raw materials index rose by 3.
68%, the chemical machinery index rose by 2.
99%, the chemical pharmaceutical index rose by 3.
05%, and the chemical fertilizer and pesticide index rose by 1.
74%; In the oil sector, the oil processing index rose by 1.
18%, the oil exploration index rose by 0.
45%, and the oil trade index rose by 6.
70%.

On the energy front, last week's International Monetary Fund's warning of a recession risk to the global economy left investors bearish on the outlook
for oil demand.
Second, Saudi Arabia lowered the price of crude oil sold to the Asian and European markets, which may indicate that the current international crude oil market is in a downturn
.
Third, natural gas prices have fallen, and oil substitution has further weakened, aggravating the downturn in the international crude oil market
.
In addition, the warm winter has further reduced the fuel demand of European countries, coupled with the high natural gas reserves of European countries, which has helped alleviate the energy crisis
faced by European countries.
As of January 6, the settlement price of the main contract of New York crude oil futures was $73.
77 / barrel, down 8.
08% from the previous month; The main contract for Brent crude settled at $78.
57 per barrel, down 8.
54%
from the previous month.

In the spot market, the top five petrochemical products were butadiene up 9.
31%, aromatic gasoline up 8.
63%, 1,4-butanediol up 5.
71%, adipic acid up 5.
03%, and toluene up 5.
01%; The top five petrochemical products were trichloroethylene down 22.
22%, liquid chlorine down 12.
99%, sulfuric acid down 12.
67%, acetone down 10.
14%, and glufosinate down 6.
25%.

In the capital market, the top five listed chemical companies in Shanghai and Shenzhen last week were Aiai Precision Industry up 21.
54%, Yayun shares up 17.
08%, Lianhong Xinke up 16.
11%, Hangjin Technology up 15.
17%, and Gao Zhengmin explosive up 15.
02%; The top five listed chemical companies were Hongda Xingye down 14.
51%, Yujiahui down 7.
47%, Shuiyang shares down 7.
47%, Sen Kirin down 7.
44%, and *ST Langqi down 5.
99%.

In terms of securities, CITIC Strategy, Industrial Securities Strategy and other ten major institutions believe that incremental funds are rushing to enter the market, and the market is expected to start
this spring.
Haitong's strategy believes that there are structural opportunities for new energy; Zhongtai Strategy believes that the pharmaceutical sector will maintain a high prosperity throughout 2023
.