I. Focus Points

1, 3/28: Market concerns about the U.S. increasing tariffs and enhancing trade risks may lead to a global economic recession, causing international oil prices to fall. NYMEXCrude oil futuresThe May contract fell by $0.56 to $69.36 per barrel, down 0.80%环比；ICE Brent crude futures for May fell by $0.40 to $73.63 per barrel, down 0.54%. China's INE crude oil futures main contract for May fell by 1.7 to 541.7 yuan per barrel, and during the night session, it fell by 3.7 to 538 yuan per barrel.

The FOB price of propylene from Korea is $800 per ton, and the CFR price to China is $825 per ton.

This week (2025-03-21 to 2025-03-27), the average operating rate of downstream industries for domestic polypropylene has decreased by 0.01 percentage points compared to last week, reaching 50.43%.

March 31: The inventory of two oils and polyolefins is 730,000 tons, an increase of 60,000 tons compared to last week.

The core logic: demand follow-up is progressing slowly, the sales pressure at the end of the month is easing, and social inventory is being depleted more quickly.

II. Price List

Three, Data Form

IV. Market Outlook

The tight spot resources at the end of the month and the intensive maintenance support the market, with obvious sentiment of price maintaining and wait-and-see. The imposition of tariffs overseas suppresses some product orders, making the market more cautious. The sluggish demand drags down the market, leading to a low future valuation. However, the cost support from PDH production still exists, securing the bottom of the market. In the short term, the market is experiencing fierce competition between cost and supply-demand. It is expected that today's market will witness a weak range-bound fluctuation, with mainstream transactions verifying prices between 7260-7430 yuan/ton.

V. Data Calendar