Pacific Securities research reports suggest focusing on investment opportunities in the food and fodder additive, and phosphorus chemicals sectors.
1) Food and feed additives: Supply is expected to be tense due to the closure of DSM's Swiss factory and domestic maintenance season. The price of vitamin E has risen significantly since the beginning of the year, and the concentration of the industry is high with slow development of new capacity, so the price of vitamin E is expected to rise further. The export expectation of lysine is good, and the price continues to rise. Focus on Zhejiang Nhu, Meihua Holdings Group, etc.;
2) Phosphorus chemicals: The price of phosphate ore continues to run high, and the price of phosphate fertilizer is stable and improving with cost support, while production and operating rates have shown some degree of recovery. In terms of demand, the compound fertilizer market is stable, and the autumn fertilizer market is slowly progressing.
