April 10th News — On April 10th, Shandong Haike Chemical Group Co., Ltd. announced the latest price for propylene, which was reduced by 350 yuan/ton to 8,950 yuan/ton. The company's 60,000-ton-per-year propylene plant is operating smoothly, with normal shipments. Chempricehub's analysis of propylene indicates a bearish score of -2. Shandong Haike Chemical's reduction of the propylene price by 350 yuan/ton to 8,950 yuan/ton, coupled with stable plant operations and normal shipments, suggests ample supply in the spot market and weak demand, posing significant downward pressure on propylene spot prices and potentially leading to further price declines. Combined with propylene futures data, such as the settlement price of the 2605 contract at 8,574 yuan/ton (a decrease of 196 yuan from the previous day), the overall downward trend in the futures market is evident. The reduction in spot prices may reinforce expectations of a decline in futures, particularly affecting the positions and trading volumes of near-month contracts, thereby exerting significant pressure on futures prices.