On January 16, Shandong Huifeng Petrochemical Co., Ltd. announced the latest ex-factory price for propylene, which was raised by 70 yuan/ton to 6,220 yuan/ton. The downstream 150,000-ton/year PP unit was shut down on March 22, with the restart time pending. PriceSeek analysis for propylene, long-short score: 1. The ex-factory price of propylene was raised by 70 yuan/ton to 6,220 yuan/ton, indicating tight supply or stronger demand support in the spot market, which directly benefits spot prices. The shutdown of the downstream PP unit may reduce propylene demand, but the current price increase dominates the positive outlook, and spot prices are expected to strengthen in the short term. Polypropylene, long-short score: 1. The shutdown of the downstream PP unit will reduce market supply, benefiting spot prices of polypropylene. At the same time, combined with the recent performance of polypropylene futures (such as the main 2605 contract closing at 6,592 yuan/ton, settlement at 6,606 yuan/ton, up 30 yuan, and open interest increasing by 7,306 lots), the expectation of reduced supply and the upward trend in futures prices resonate, benefiting futures prices.