Core View - Propane dehydrogenation unit operating rate increased to 73.13% (weekly increase of 1.35%), and the support for chemical demand marginally strengthened [2] - Saudi CP prices were lowered (propane at $575/ton, butane at $545/ton), reducing the import cost at the port of arrival and partially alleviating domestic price pressure [2] - Domestic refinery operating rate was at a high level, with the commercial volume maintained above 520,000 tons and port inventory exceeding 3 million tons [2] - Consumption was sluggish during the off - season, and the sales - to - production ratios in East China and South China dropped to 99% and 93% respectively (weekly decrease of 1% - 7%) [2] - Despite the marginal improvement in chemical demand, supply pressure and the off - season for combustion dominated the market. Coupled with high port inventory, the price rebound space was limited [3] Data Charts - The report includes multiple data charts, such as the daily settlement price of propane's Far - East Inbound Price FEI: M1, the seasonal comparison between FEI and Brent, PDH profit/operating rate, FEI/MOPJ spread seasonality, propane's US FOB price, MB and WTI ratio seasonality, VLGC freight, US propane weekly production, import volume, inventory, and export volume [4][5][7]