Huachuang Securities released a research report saying that profits in the PX and pure benzene industry are at the bottom of recovery and are highly elastic. The PX transaction logic has gradually switched from rising costs to shrinking supply, where price resilience is stronger than raw materials; external dependence on pure benzene continues to increase, spot support is strong, and a strong structural pattern is taking shape. If navigation and raw material supply improve, the low price difference is expected to be repaired. With the advantages of raw material guarantee and cost synergy, integrated refining and chemical companies are relatively more resilient in terms of profit resilience and repair flexibility.

Huachuang Securities released a research report saying that profits in the PX and pure benzene industry are at the bottom of recovery and are highly elastic. The PX transaction logic has gradually switched from rising costs to shrinking supply, where price resilience is stronger than raw materials; external dependence on pure benzene continues to increase, spot support is strong, and a strong structural pattern is taking shape. If navigation and raw material supply improve, the low price difference is expected to be repaired. With the advantages of raw material guarantee and cost synergy, integrated refining and chemical companies are relatively more resilient in terms of profit resilience and repair flexibility.