1, 3/21: The market believes that the Asian economy and demand are expected to improve, and the instability in the Middle East still brings potential supply risks, leading to an increase in international oil prices. NYMEXSwitch month 05 contract 68.28 up 0.21 USD/barrel, MoM +0.31%; ICE Brent crude futures 05 contract 72.16 up 0.16 USD/barrel, MoM +0.22%. China INE crude oil futures main contract 2505 up 9.3 to 531.3 CNY/barrel, night session up 4.4 to 535.7 CNY/barrel.

2, propylene FOB Korea at 810 USD/ton, CFR China at 830 USD/ton.

3, This week (20250314-0320) the average operating rate of domestic polypropylene downstream industries increased by 0.46 percentage points to 50.44%.

4, March 24: The inventory of the two oil polyolefins is 795,000 tons, an increase of 30,000 tons from last week.

Core logic: enhanced support on the cost side, gradual recovery of downstream rigid demand, and high difficulty in cost transfer.

II. Price List

Three, data form

Market Outlook

Cost and demand-side rigid support, market confidence slightly lifted. The supply side is driven by intensive maintenance benefits, alleviating the bearish impact brought by market supply and demand pressure. The main reason for the demand side is the slow recovery of rigid demand, with frequent national policies boosting demand-side increments; the bearish drag comes from overseas tariff hikes, restricting some downstream product export orders. In the short term, there is intense friction and competition between supply and demand, with expectations that today's market prices may slightly increase, mainly ranging from 7260-7420 yuan/ton for transaction verification.

Five, Data Calendar