Market Review

As of June 12, the benchmark price for propylene tracked by SunSirs stood at 8,841.00 RMB/ton, down 3.21% from the beginning of the month (9,134.33 RMB/ton). Throughout the week, the price gradually retreated from 8,997.67 RMB/ton on June 5 to 8,841.00 RMB/ton, reflecting an overall trend of fluctuation with a bearish bias.

Fundamentals and Market Sentiment

A loose supply-demand balance forms the primary backdrop for the current weak price trend. Supply is ample while demand lacks significant momentum, resulting in lackluster market trading activity;

A single-day drop of 1.93% occurred on June 8, reflecting fragile market sentiment;

Prices have recently remained consistently below all major moving averages, indicating a bearish technical alignment and a lack of strength for any rebound.

Market Outlook

Propylene prices are expected to continue fluctuating with a weak undertone in the short term. Should there be no significant improvement in demand or if supply-side pressure persists, prices could potentially decline further.

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