April 17th News — On April 17th, Shandong Haike Chemical Group Co., Ltd. announced its latest propylene quotation, which was lowered by 80 yuan/ton to 8,970 yuan/ton. The company’s 60,000-ton-per-year propylene plant is operating stably with normal shipments. Chempricehub’s analysis of propylene indicates a bearish score of -1.5. The reduction in Shandong Haike Chemical’s propylene quotation by 80 yuan/ton to 8,970 yuan/ton suggests ample spot market supply or weak demand. The stable operation of the plant and normal shipments reinforce expectations of steady supply, exerting significant downward pressure on spot propylene prices. Combined with futures market data, although the main propylene contract on the Zhengzhou Commodity Exchange (e.g., the 2607 contract closed at 8,293 yuan/ton on April 16th, up 72 yuan) showed a slight increase, the reduction in spot quotations may curb future gains in futures prices, reflecting a weakening fundamental outlook and exerting bearish pressure on futures prices.