Price trend

This week, the propane market in Shandong rose first and then fell, and rose overall. According to the data monitoring of SunSirs, the average market price of propane in Shandong was 6,420 RMB/ton on January 30 and 6,425 RMB/ton on February 3, with a weekly increase of 0.08%, and up 4.54% from the same period last year.

Analysis review

This week (1.30-2.3), Shandong propane market rose first and then fell, with high market prices. At the beginning of the week, in February, CP introduced a sharp increase in import costs, and domestic enterprises intended to continue to push up, but the downstream follow-up was slow, and began to appear resistance, and the prices of individual factories were slightly reduced. Downstream staged replenishment had come to an end, and it had changed to be rigid demand mainly. On the news side, crude oil fell several times, which depressed the mentality of the industry. Propane prices began to fall slightly in the middle of the week. As of this Friday, the mainstream price of Shandong propane market was 6,400-6,450 RMB/ton.

Saudi Aramco introduced CP in February 2023, and propane was 790 US dollars/ton, up 200 US dollars/ton from last month; Butane was 790 US dollars/ton, up 185 US dollars/ton from last month.

Market outlook

On the whole, the market demand peak season has passed, and the demand has weakened. At the same time, the port supply has increased. It is expected that the possibility of the fall form high levels of the propane market will increase in the short term.

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