Analysis of the development status and future trends of the chemical industry in 2022 The European chemical industry takes natural gas as the main energy supply

Historically, the maintenance of high food prices will drive the demand of the fertilizer industry, so we strongly recommend paying attention to the strong cycle of the agrochemical sector, especially the fertilizer sector. On the supply side, the current stock of fertilizer in the world's major grain growers such as India, North America and Brazil is low; On the demand side, the domestic fertilization season and the overseas fertilization season are coming. Therefore, the low inventory superposition fertilization season is coming, and we judge that the fertilizer price center will be further improved under the global replenishment demand. At the same time, due to the fourth quarter of last year to the domestic fertilizer supply to stabilize the price and then tighten exports, the current domestic and foreign phosphate fertilizer, nitrogen fertilizer price difference is huge. The market expects that with the decline of domestic supply pressure after spring tillage, the state or gradually liberalize the export restrictions on fertilizers, the high boom of fertilizers under the stronger price increase expectation is expected to continue, and the performance of related enterprises will have significant flexibility