On May 11, Shandong Haike Chemical Group Co., Ltd. announced its latest propylene quotation, reducing it by 110 CNY/ton to 9,190 CNY/ton. The company's 60,000-ton/year propylene unit is operating stably with normal shipments.

Chempricehub assesses propylene with a long-short rating of -1.

Spot market: Shandong is the core propylene production region in China. As a major local producer, Shandong Haike's price cut of 110 CNY/ton, alongside stable operations and normal shipments from its 60,000-ton/year propylene unit, indicates ample spot supply and insufficient demand support, which is bearish for propylene spot prices.

Futures market: On May 8, 2026, the main propylene contract (2607) on the Zhengzhou Commodity Exchange closed at 8,268 CNY/ton, down 202 CNY/ton from the previous day. The already weak futures trend, compounded by the bearish signal from the spot price adjustment, further pressures propylene futures prices.