Affected by the price increase of raw materials, the world’s leading European DSM has raised the price of vitamin E by 20%. According to customs data, the import price of m-cresol, an important intermediate for vitamin E, also rose sharply in the second quarter. DSM’s integration can be just around the corner, and the VE capacity landscape is reshaping. Guohai Securities believes that, considering the expectation of the suspension of production, the bottom of the VE price is expected to move at least until next year. In addition, the supply and demand of the VA industry is tightly balanced, and the price increase is expected to be strong. The supply side has strong control and the company has a high operating rate. In terms of companies, Zhejiang Pharmaceutical and Xinhecheng are major vitamin E companies. (SSE Information)
Comment: The fund will pay more attention to the varieties of fundamental improvement. From the perspective of the mid-line, investors may wish to pay close attention.