News list for "国泰君安期"

国泰君安期货能化联合调研

金十期货特约国泰君安期货分析:国内炼厂在经历3-4月油价下跌后利润持续修复,均有不同程度、不同形式的点价备货,原料库存从此前低位有一定回升,装置复工预期小幅增强。从原油采购渠道看,近期地缘风险带来的不利影响明显,或削弱中长期行业利润。分产业链和品种看,山东、东北、华东地炼短期 开工 稳定,但成品油需求疲软及原料扰动抑制中长期产能利用率。华北方面有所不同,受原料消费税、地缘等影响相对更谨慎。化工轻油加工方面,芳烃估值回归基本面,内外盘套利窗口收窄;烯烃方面,关税政策波动下乙烷采购谨慎,丙烷或转向中东货源,政策整合及配额分配仍是未来关注重点。

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2025-05-09 10:12:16
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