Chemical fertilizer export tariffs are expected to usher in the spring industry

This week (12.19-12.25) crude oil market rebound, acrylic acid, urea, viscose staple fiber, caprolactam led, PVC prices continue to fall. The fertilizer export tariff rates fell, positive export. Investment, recommended fertilizers and pesticides, viscose staple fiber industry, underestimate the value of high growth stocks in the layout of new chemical materials.
Plate Market Performance: down 0.23%, stronger than the broader market

Led the stock shares, including Wansheng Hengda high-tech, Chongqing Three Gorges A, driving the core reason is rising product prices, equity transfer, company mergers and acquisitions; this week, led by a Taurus chemical, oxiranchem, Jinlu group is the main factor, valuation regression.
Industry news and comment: fertilizer export tariffs substantially reduced, industry expected to usher in spring
In 2017 the state canceled urea, ammonium chloride, calcium carbonate, calcium superphosphate, ammonium phosphate, diammonium phosphate, nitrogen and phosphorus fertilizer export tariff of two yuan to three yuan; NPK compound fertilizer export tariff from 30% to 20%; potassium chloride, potassium sulfate and potassium to maintain 600 yuan / ton export tariffs remain unchanged. As a whole, it is beneficial to the export of products, easing the situation of excess production capacity and improving the profit of the industry. It is recommended to focus on Hualu-Hengsheng, Luxi Chemical, Yang Feng, Swart, Jin Zhengda, STANLEY, sky.

Analysis of changes in product prices remain strong: urea, viscose staple fiber
The market gradually optimistic about OPEC production cuts, oil prices rebounded slightly; the North haze, industry production, market operating rate is not high, methanol prices soared, part of the enterprise production, urea prices continued to rebound, good Hualu-Hengsheng Luxi Chemical Industry, etc.; environmental restrictions started low, low inventory, viscose staple fiber prices upward, positive, Nanjing Sanyou chemical chemical fiber; consumption off-season, PVC prices continued to fall, bad Thailand chemistry, Jun Group etc..
View of investment: high conversion

In December, the experience of previous years, even in the off-season, chemical boom is still high, prices Puzhang situation, the core driving force for coal prices, rising oil prices, the cost of the uplink, tighter environmental protection, the suppression of trade started, tight supply. The investment, improve the supply and demand of the times the recommended configuration varieties, chemical fertilizers and pesticides recommended (glyphosate), silicone, viscose staple fiber, TDI industry, concern, Yuntianhua, Xin’an Huaneng Power shares, XX group, Jin Zhengda, STANLEY, Yang Feng, Swart, *ST, big Cang Sanyou chemical. At the same time, continue to be optimistic about the new chemical materials industry, sustained import substitution, frequent policy, catalytic market, key recommendation: (1) electronic chemicals: import substitution + technological innovation has brought new demand, Kang Dexin, Ding long shares, Wan Run shares. (2) and other new materials: continuous replacement of foreign products, rapid growth, recommend Haley, sinocera.
Risk warning:
1 Environmental and safety risk;
2 market development risks.