HTSC(601688) 快讯·2025-06-04 23:54Core Viewpoint - The overall chemical price spread remains weak due to weak demand and new capacity additions, but a recovery point for chemical cyclical products is expected in the second half of 2025 with demand recovery and significant slowdown in capital expenditure alongside supply-side adjustments [1] Group 1 - Weak demand and new capacity additions are contributing to the overall weakness in the chemical price spread [1] - A recovery in the chemical cyclical products is anticipated in the second half of 2025 due to demand recovery and a significant reduction in capital expenditure [1] - Supply-side adjustments are expected to play a role in the recovery of the chemical sector [1] Group 2 - Short-term oil prices are facing pressure from demand concerns and weakening supply coordination [1] - Cost reduction and demand improvement may support the continued recovery of downstream sectors [1]