下游跟进偏弱，价格延续底部震荡

Report Industry Investment Rating - Not provided in the given content Core Viewpoints of the Report - The downstream follow - up is weak, and the price continues to fluctuate at the bottom. The supply is in a loose pattern, the demand support is weak, and the cost - side support has also weakened. The short - term is mainly in a weak shock, and it is advisable to wait for marginal device maintenance [1][2][3] Summary According to the Directory 1. Propylene Basis Structure - The closing price of the propylene main contract is 5,744 yuan/ton (+0), the spot price of propylene in East China is 5,975 yuan/ton (+0), the spot price of propylene in North China is 6,015 yuan/ton (- 40), the basis of propylene in East China is 231 yuan/ton (+0), and the basis of propylene in North China is 78 yuan/ton (-24) [1] 2. Propylene Production Profit and Capacity Utilization Rate - The propylene capacity utilization rate is 74% (+0%). The production profit and capacity utilization rate of different production methods (PDH, MTO, naphtha cracking) are also involved in relevant figures [1] 3. Propylene Import and Export Profit - The import profit is - 341 yuan/ton (+5) [1] 4. Propylene Downstream Profit and Capacity Utilization Rate - PP powder capacity utilization rate is 40% (-0.89%), production profit is - 215 yuan/ton (+40); epoxy propane capacity utilization rate is 76% (+0%), production profit is 82 yuan/ton (+0); n - butanol capacity utilization rate is 69% (-6%), production profit is 109 yuan/ton (-25); octanol capacity utilization rate is 77% (+1%), production profit is 497 yuan/ton (+36); acrylic acid capacity utilization rate is 80% (+2%), production profit is 358 yuan/ton (+0); acrylonitrile capacity utilization rate is 81% (+0%), production profit is - 684 yuan/ton (+58); phenol - acetone capacity utilization rate is 80% (-3%), production profit is - 952 yuan/ton (+0) [1] 5. Propylene Inventory - The in - plant inventory of propylene is 45,960 tons (-1,930) [1]