On February 2, Shandong Haike Chemical Group Co., Ltd. announced the latest propylene quotation, which was lowered by 20 yuan/ton to 6,380 yuan/ton. The 60,000-ton-per-year propylene plant is operating smoothly, with normal shipments. PriceSeek analysis of propylene: Bull-bear score: -1. Shandong Haike Chemical’s reduction of the propylene quotation by 20 yuan/ton to 6,380 yuan/ton indicates sufficient market supply or weakening demand, leading to a decline in spot prices. The smooth operation of the plant and normal shipments reinforce expectations of stable supply, exerting a generally bearish impact on propylene spot prices.
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