2018年基础化工业新增产能增速维持低位，环保力度继续抬升，需求端海内外经济继续回暖 ，无大幅下挫风险，建议投资者风险偏好适度提升，积极布局周期上行的白马和增长较快的成长股。

我们监测的最新中信建投化工景气指数为-9.09，前周 21.59，化工景气指数开始转负，二级市场基础化工指数（中信）跌 4.47%，上证跌 1.45%。 

The global nitric acid market is expected to be primarily driven by increasing use of fertilizers. The maximum amount of nitric acid is consumed in producing ammonium nitrate and calcium ammonium nitrate (CAN). However, use of ammonium nitrate is declining in Europe as well as other parts of the world because of concerns relating to nitrate groundwater contamination and changes in agricultural subsidy policies. Urea is emerging as one of the main nitrogen fertilizers, which is less costly, contains more nitrogen, and does not have many safety issues.

进入新世纪以来，“物流是第三利润源泉”[1]已成为全球经济和管理领域普遍认同的重要经济理论。本文围绕提升中国石化化工板块核心竞争力，分析了中国石化化工销售有限公司(以下简称化工销售)物流现状及变革的紧迫性，重点论述了运用“第四方物流”[2]和供应链[3]理论，构建既能实现物流增值创效，又能提升营销水平的全新化工物流营运体系的可行性。

截至2016年底，我国磷肥产能2470万吨P2O5，产量1662.3万吨。2016年磷肥产业集中度继续提升，出口压力重重，量价齐跌。长期来看，随着国家供给侧改革的深化、安全环保和市场监管力度的加强，未来我国磷复肥行业供过于求的状况将逐步改善。

阐述了国内己内酰胺的生产、消费、进出口情况及需求展望，并提出了发展建议

2017 年三季度农药出口继续量价齐升。1-9 月国内农药出口量 121 万吨，同比增长 14.3%，出口金额 34.24 亿美元，同比增长 22.7%，出口均价达2015 年以来最高，同比增长 7.2%。而三季度单季度出口数量同比增长12.5%，出口金额同比增长 26.2%，延续一二季度量价齐升态势。

Sodium benzoate is commonly used as a preservative as it prevents the growth of microorganisms such as bacteria, yeast, fungi, and molds. The cost-effective nature of sodium benzoate makes it preferred in the end-use industries. Sodium benzoate is usually represented by the food additive code number E211. The neutralization of sodium hydroxide and benzoic acid produce sodium benzoate. Although benzoic acid has comparatively more efficient anti-microbial properties; sodium benzoate is preferably used as a preservative as it is highly water soluble.

2017 年第三季度基础化工板块较上涨8.37%,，沪深300 指数较上涨6.17%，基础化工板块跑赢大盘2.20 个百分点，涨幅居于所有板块第10 位。化工行业Q3 营收与净利润大幅增长，盈利能力和流动性持续提升营收、净利润：前三季度基础化工行业实现营业收入8820.9 亿元，同比上升43.8%，归母净利润606.5 亿元，同比上升80.2%。其