基础化工行业周报：反内卷政策持续发力，行业供需或迎来改善

标配[Table_Authors]证券分析师张晶磊S0630524090001zjlei@longone.com.cn证券分析师谢建斌S0630522020001xjb@longone.com.cn[table_stockTrend][table_product]相关研究1.卫星化学（002648）：美国恢复对华乙烷出口，看好公司稀缺性、成长性——公司简评报告2.小米、荣耀等新产品频出，关注新材料国产化进程——基础化工行业周报（2025/6/23-2025/6/29）3.供给优化的弹性β，需求驱动的优质α——基础化工2025中期投资策略-17%-9%0%8%17%25%34%24-07 24-1025-0125-04申万行业指数:基础化工(0722)沪深300 2/19正文目录1.本周行业新闻及事件点评............................................................51.1.反内卷政策持续发力，行业供需或迎来改善................................................51.2.重点子行业投资建议...................................................................................52.化工板块周表现...........................................................................52.1.股票市场行情表现.......................................................................................52.1.1.板块表现..................................................................................................52.1.2.个股涨跌幅...............................................................................................62.2.重点产品价格价差周表现............................................................................72.2.1.重点产品价格涨跌幅................................................................................72.2.2.重点产品价差涨跌幅................................................................................82.2.3.变动分析..................................................................................................83.本周重点公告..............................................................................94.重点产品价格价差走势跟踪.......................................................105.风险提示...................................................................................18 HTTP://WWW.LONGONE.COM.CN请务必仔细阅读正文后的所有说明和声明 3/19图表目录图1申万板块指数周涨跌幅排名（2025/6/30~2025/7/4）...........................................................6图2石化和化工子板块周涨跌幅排行（2025/6/30~2025/7/4）....................................................6图3基础化工涨幅前五.................................................................................................................7图4基础化工跌幅前五.................................................................................................................7图5石油石化涨幅前五.................................................................................................................7图6石油石化跌幅前五.................................................................................................................7图7原油价格（美元/桶）...........................................................................................................10图8天然气价格（美元/百万英热）............................................................................................10图9原油催化裂化价差（元/吨）................................................................................................10图10乙烯价格价差（美元/吨）.................................................................................................10图11丙烯价格价差（元/吨）.....................................................................................................11图12 LLDPE价格价差（元/吨）.................................................................................................11图13 PP价格价差（元/吨）.......................................................................................................11图14纯苯价格价差（元/吨）.....................................................................................................11图15甲苯价格价差（元/吨）.....................................................................................................11图16 PX价格价差（元/吨）.......................................................................................................11图17苯乙烯价格价差（元/吨）.................................................................................................12图18丙烯腈价格价差（元/吨）.................................................................................................12图19环氧乙烷价格价差（元/吨）..............................................................................................12图20环氧丙烷价格价差（元/吨）..............................................................................................12图21丙烯酸价格价差（元/吨）.................................................................................................12图22丙烯酸甲酯价格价差（元/吨）..........................................................................................12图23 TDI价格价差（元/吨）......................................................................................................13图24己二酸价格价差（元/吨）.................................................................................................13图25 MDI价格价差（元/吨）......................................................................................................13图26 BDO价格走势（元/吨）....................................................................................................13图27轻质纯碱价格价差（元/吨）..............................................................................................13图28重质纯碱价格价差（元/吨）..............................................................................................13图29电石法PVC价格价差（元/吨）................................................................................