7 月14 日布伦特原油价格达75.33 美元/桶，周环比下跌2.31%；WTI 原油下跌至71.01 美元/桶，周环比下跌3.78%，WTI 与布伦特原油之间价差为4.32 美元/桶，周环比放大30.51%。

本报告从煤化工发展现状及产能格局出发，结合下游煤化工需求进行分析，认为在油价上行、技术革新加快的背景下，煤化工项目的经济性大幅提升，下游煤化工企业投资意愿加强。再加上环评放宽、政策回暖、下游煤企资金良好，煤化工项目有望加速落地，开启新成长周期。

Silicones are a group of superior quality materials that offer strength. The resins are majorly used for production line assembly, for instance in electrical and electronics applications, production of household appliances, automotive industry, and for window manufacturing.

The automotive appearance chemicals market has been segmented based on three levels. Functional segmentation of automotive appearance chemicals market has been done on the basis of key products. The products include:

The ammonium nitrate market is segmented on the basis of application, and regions. The application segment is segmented into fertilizer, explosive, and others. The aforementioned applications are further classified on the basis of the regions into North America (U.S.), Europe (Ukraine, Poland), Asia Pacific (China, India), Central & South America (Brazil) and Middle East & Africa. The applications are further classified into various products on the global level and are represented in revenue (USD Million).

Acrylics was the dominant product segment and accounted for 36.0% of the market volume in 2017. The segment is expected to grow at a CAGR of 5.5% from 2018 to 2025. Acrylic adhesives have fast setting time, high adhesion for difficult to bond substrates and good environmental resistance. Acrylic based materials are being used in the development of waterborne and heat resistant adhesives and UV light curing adhesives.

中国石化原化工产品以实物质量等级品率进行评价，存在执行标准不统一，不能反映同一等级品率下不同企业产品实物质量差异的问题。建立合理的化工产品质量稳定性分析方法，对出厂产品实物质量进行稳定性分析，可以帮助质量管理人员找准质量问题、优化工艺参数，从而提高目标产品质量稳定性，促进提质增效。

我国已成为全球最大的有机硅单体生产国和消费国，产能占全球总产能的51.3%。有机硅单体/中间体的生产制造是整条产业链的核心，其生产工艺复杂、流程长、技术壁垒较高，属于资本密集型与技术密集型产业，国内外集中度均较高，议价能力强。 

行业面临的宏观经济环境下行风险。2018年全球经济稳步复苏，2018年第一季度美国经济企稳回暖，GDP增速达到2.82%；欧元区经济延续复苏态势加强；受益于出口较快增长等因素驱动，日本经济也将获得正增速。2018年下半年国内经济受到房地产投资调控和金融去杠杆政策以及中美贸易战等不确定因素影响下，整体宏观经济存在下行风险。

环保趋严形势不减，把握ROE 向上和扩产放量逻辑：“坚决打好污染防治攻坚战”的要求下，第一批中央环保督查“回头看”开始，新一轮强化督查再启动，长江经济带污染整治、退城入园工作有序进行，环保不断加强趋势明显，有望维持周期高景气。