March 12 — On March 12, Dongying Hualian Petrochemical Plant Co., Ltd. announced a reduction in the latest propylene quotation. The ex-factory self-pickup price was lowered by 320 yuan/ton to 7,983 yuan/ton. The company’s 120,000-ton-per-year propylene plant is operating stably.

Chempricehub’s analysis of propylene indicates a bearish score of -1. The article notes that the reduction of Dongying Hualian’s propylene ex-factory self-pickup price by 320 yuan/ton to 7,983 yuan/ton suggests ample supply or weak demand in the spot market, directly exerting downward pressure on propylene spot prices and potentially leading to short-term price pressure.

Combined with propylene futures performance (for instance, the closing price of the Zhengzhou Commodity Exchange 2605 contract on March 11 was 7,812 yuan/ton, down 109 yuan), the spot price reduction may reinforce the downward trend in futures, as market expectations of looser supply and demand generally exert bearish pressure on futures prices.