March 11th News On March 11th, Shandong Huifeng Petrochemical Co., Ltd. announced a reduction of 450 yuan/ton in its latest ex-factory price for propylene, bringing it down to 8,400 yuan/ton. The downstream 150,000-ton/year polypropylene (PP) unit is scheduled to shut down on March 22nd, with the restart time yet to be determined. Chempricehub Analysis: **Propylene, Bull-Bear Score: -2** Shandong Huifeng Petrochemical’s reduction of the propylene ex-factory price by 450 yuan/ton to 8,400 yuan/ton directly reflects oversupply or weak demand, exerting downward pressure on spot prices. The shutdown of the downstream PP unit will further reduce demand for propylene, adding to the bearish market sentiment. Combined with futures data, the continuous decline in the main propylene futures contract (e.g., the 2605 settlement price at 7,604 yuan/ton, down 109 yuan) and the reduction in open interest indicate strong bearish sentiment in the market, with futures prices facing further downward pressure. **Polypropylene, Bull-Bear Score: 1** The shutdown of the downstream 150,000-ton/year PP unit will reduce market supply, supporting polypropylene spot prices. Although futures data show a recent decline in the main polypropylene futures contract (e.g., the 2609 settlement price at 7,450 yuan/ton, down 59 yuan), the news of the unit shutdown may alleviate oversupply concerns, potentially benefiting a rebound in futures prices. Subsequent supply-demand dynamics should be closely monitored.