March 12th News — On March 12th, Shandong Haike Chemical Group Co., Ltd. announced a reduction in its latest propylene offer by 300 yuan/ton to 8,000 yuan/ton. The company’s 60,000-ton-per-year propylene plant is operating stably with normal shipments.

Chempricehub Analysis on Propylene — Bull-Bear Score: -2
Shandong Haike Chemical’s reduction of the spot propylene price by 300 yuan/ton to 8,000 yuan/ton indicates ample supply and weak demand. The stable operation of the plant and normal shipments reinforce market expectations of oversupply, constituting a significant bearish factor for spot prices.

Combined with propylene futures data from March 11th (e.g., the settlement price of the 2605 contract at 7,604 yuan/ton, down 109 yuan), the spot price reduction may intensify downward pressure on futures. The decrease in open interest for the main contract (the 2605 contract open interest at 15,588 lots, down 341 lots) reflects strong bearish sentiment in the market, with futures prices expected to remain under downward pressure.

Therefore, a significant bearish score of -2 is assigned.