The chemical industry ETF (516570) rose 2.27%, while China Petroleum, Wanhua Chemical, and Hualu Hengsheng rose by over 5%

In today's session, the petrochemical sector continued to strengthen. As of press release, the chemical industry ETF (516570) has increased by 2.27%; Most heavyweight stocks rose, with Hualu Hengsheng, Wanhua Chemical, and PetroChina up more than 5%, while Sinopec, Yuntianhua, and Tianci Materials followed suit.

On the news, Wanhua Chemical recently released its first quarter report for 2023. During the reporting period, the company achieved a revenue of 41.939 billion yuan, a year-on-year increase of 0.37% and a month on month increase of 19.33%; The net profit attributable to the parent company was 4.053 billion yuan, a year-on-year decrease of 24.58% and a month on month increase of 54.38%.

Shen Wanhongyuan stated that there is strong overseas demand, with both the quantity and price of MDI products rising, and Wanhua Chemical's performance in the first quarter stabilized and rebounded month on month. In terms of sectors, the cost end of basic chemicals fell back, but the Price scissors gap between the price center and the bottom of the price difference is still there, and the supply side has not been fully released. With the continuous improvement of chemical demand, it is expected to promote the repair of chemical price difference. In addition, exports exceeded expectations in March, and chemical demand is expected to continue to recover.

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