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Data as of: 2026-10-21 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)

CZCE.PL(PL2612) In-Depth Analysis Report | Range-Bound with Bearish Bias, Watch 9272 Support | 2026-10-22

The current PL2612 main contract price is under pressure, with technicals and fundamentals resonating toward a bearish direction. As of the October 21 settlement price of 9499 yuan/ton, the 5-day decline is 2.19%, and the short-term moving average system is in a bearish alignment. The night session continued weak, increasing the risk of breaking below key support. On the fundamentals side, crude oil price volatility and weak downstream demand are pressuring propylene prices. The price is expected to test lower support; if 9272 yuan/ton is effectively broken, further downside space will open.