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Rising prices for chemical products drive a rebound in the industry; multiple oil and petrochemical companies saw their first-half earnings multiply

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According to reporter statistics, as of July 20, 28 listed oil and petrochemical companies have disclosed their first-half earnings forecasts. Among them, 15 companies are expecting an increase in profit, and 5 have turned loss-making into profit or narrowed losses. In the first half of the year, geopolitical conflicts in the Middle East triggered price increases in globally traded chemical products. Wang Qiangfeng, chief analyst for the chemicals industry at Hua’an Securities, told the reporter that benefiting from inventory drawdowns, the profitability of certain products with relatively better industry positioning has improved noticeably. Driven by replenishment demand in the third quarter, the sector’s fundamentals are expected to improve further. In the face of continuously unfolding geopolitical games, some brokerage analysts have pointed out that, compared with oil price disruptions, the expansion of demand for new materials catalyzed by the AI industry is a new main theme worth focusing on. Looking ahead to the second half of the year, Yang ZhanKui, deputy head of the large-cycle group at Zhejiang Securities and chief analyst for the chemicals industry, said that traditional bulk chemical products will still benefit from inventory replenishment and diversion of exports. Sectors such as refining and chemicals, chemical fibers, polysilicon, agrochemicals, and phosphorus chemical industry are worth watching. The AI “silicon-based inflation” makes high-end chemical materials one of the strongest growth sectors, and the industry is expected to remain on an improving trend over the coming years. (Shanghai Securities News)
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