Better realization + Higher RM cost = Moderate earning growth in Q4 We expect the companies under our chemicals coverage to report strong revenue growth (25.3% YoY) mainly led by steady demand in end-user industries and higher realization (raw material price increase pass on). We expect moderate volume growth for most companies under our coverage universe. Due to severe disruptions on supply routes, increased freight costs continued to impact imports, resulting a jump in chemical prices in the domestic market. Behind the sharp increase in the Crude oil price (+59% YoY), the base chemicals like Benzene, Toluene, Xylene, Phenol etc. have also surged between 40-90% on a YoY basis. High input costs coupled with an abnormal increase in...