Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - Polyolefin futures continued to be weak. The weakness in polyolefin prices was due to both the drag of crude oil and the need to digest spot goods after the long holiday. With the continuation of the China - US game, crude oil was under pressure and cost support weakened. In the short term, polyolefin prices generally fluctuated passively following the cost side, and market sentiment was cautious. However, after consecutive declines in chemicals, the decline rate might slow down [2] Group 3: Summary Based on Related Catalogs Futures Market - **Price Changes**: For linear LL, the previous day's closing prices for January, May, and September contracts were 6879, 6921, and 6952 respectively, with increases of 5, 14, and 21 compared to the day before, and corresponding increases of 0.07%, 0.20%, and 0.30%. For拉丝 PP, the previous day's closing prices for January, May, and September contracts were 6565, 6618, and 6650 respectively, with increases of 14, 15, and 17, and corresponding increases of 0.21%, 0.23%, and 0.26% [2] - **Trading Volume and Open Interest**: The trading volumes of linear LL for January, May, and September contracts were 218340, 20698, and 263 respectively, and the open interests were 562100, 61495, and 830 respectively, with changes of - 3312, - 750, and - 33. The trading volumes of拉丝 PP for January, May, and September contracts were 257663, 22344, and 831 respectively, and the open interests were 654849, 119507, and 4521 respectively, with changes of - 6902, 1181, and 333 [2] - **Spreads**: For linear LL, the current spreads of January - May, May - September, and September - January were - 42, - 31, and 73 respectively, compared to previous values of - 33, - 24, and 57. For拉丝 PP, the current spreads of January - May, May - September, and September - January were - 53, - 32, and 85 respectively, compared to previous values of - 52, - 30, and 82 [2] Raw Materials and Spot Market - **Raw Materials**: The current prices of methanol futures, Shandong propylene, South China propane, PP recycled materials, North China powder materials, and mulch film were 2269 yuan/ton, 6010 yuan/ton, 523 dollars/ton, 5600 yuan/ton, 6470 yuan/ton, and 8800 yuan/ton respectively, with some price changes compared to the previous values [2] - **Mid - Stream Spot**: The spot price ranges of linear LL in the East China, North China, and South China markets were 6900 - 7500 yuan/ton, 6900 - 7150 yuan/ton, and 7100 - 7550 yuan/ton respectively. The spot price ranges of拉丝 PP in the East China, North China, and South China markets were 6450 - 6650 yuan/ton, 6450 - 6550 yuan/ton, and 6500 - 6650 yuan/ton respectively [2] News - On Monday (October 20, 2025), the settlement price of WTI crude oil futures for November 2025 on the New York Mercantile Exchange was $57.52 per barrel, down $0.02 or 0.03% from the previous trading day, with a trading range of $56.35 - $57.81. The settlement price of Brent crude oil futures for December 2025 on the London Intercontinental Exchange was $61.01 per barrel, down $0.28 or 0.46% from the previous trading day, with a trading range of $60.07 - $61.55 [2]