Continuation of the theme - This potential avenue was highlight by our China Chemicals analyst, Kaylee Xu, last week; China Refining & Chemicals: Anti-Involution: Pathways, Exposure, and Who Benefits/Suffers. Kaylee sees the prohibition of new capacity as the most effective way to address oversupply, as the new additions dwarf the ageing capacity. That said, this is a move in the right direction and we think it will be seen as a positive for sentiment. This is all supportive of our recent upgrade of BASF; S ...