Sinopec Shanghai has an annual PP capacity of 400,000 tons across three units, all currently operating at normal loads. The ex-factory reference price for drawing-grade T300 has been raised by 100 yuan to 6,850 yuan/ton. Spot prices from merchants are adjusting to market conditions, with trading activity remaining favorable. PriceSeek's analysis of PP gives a long-short score of 1.5. The increase in Sinopec Shanghai's PP ex-factory reference price by 100 yuan to 6,850 yuan/ton reflects strengthening prices on the supply side, while normal unit loads indicate stable supply. Merchants' spot prices adjusting to market conditions and favorable trading activity suggest active market demand and smooth inventory digestion. This news constitutes a significant positive factor for PP spot prices, with expectations of further short-term price increases, supporting a bullish market sentiment.