Five chemical companies' profits in the first three quarters exceeded 10 billion yuan
Benefiting from the economic recovery and the recovery of downstream demand, the prosperity of the chemical industry continues to be high. According to the latest quarterly data, in the first three quarters, the profits of the chemical sectors of PetroChina and Sinopec: Wanhua Chemical, Hengli Petrochemical, and Rongsheng Petrochemical all exceeded 10 billion yuan.
Since the beginning of this year, benefiting from rising international oil prices and repairing market consumption, combined with stable domestic petrochemical capacity supply and rebounding overseas demand, the price and spread fluctuations of various major chemical products in my country have remained in the high range, supporting the stability and growth of corporate profits. At the same time, the downstream chemical new material market has also benefited from the promotion of raw material costs, terminal recovery and the strong growth of my country's new energy, high-end manufacturing, green and environmental protection and other new materials consumption demand. The market space and profitability of new materials have increased and improved significantly.
Looking ahead, the chemical sector's prosperity in the fourth quarter is still improving. The CICC research report shows that the strengthening of dual energy consumption control in some provinces and cities will result in a reduction in the supply of high-energy-consuming chemicals and an increase in raw material prices. It is expected that the overall chemical product price index will continue to show an upward trend in the fourth quarter.