Price trend

This week, the increase in the domestic Shandong propane market took back and quickly declined. According to the Commodity Market Analysis System of SunSirs, the average price of propane in Shandong on July 3rd was 3,963 RMB/ton, and on July 7th it was 3,780 RMB/ton. The weekly decline was 1.6%, and a decrease of 37.26% compared to the same period last year.

Analysis review

This week (7.3-7.7), the Shandong propane market continued to decline, with prices rapidly falling. Due to refineries raising prices one after another over the weekend, downstream consumers had a clear resistance towards high priced goods, resulting in a significant decrease in buying atmosphere. In addition, the impact of imported low priced goods, the inventory pressure on refineries had increased. In order to stimulate sales, prices fell back this week.

Saudi Aramco's June CP was introduced, with propane at 450 US dollars per ton, a decrease of 105 US dollars per ton compared to the previous month; Butane was 440 US dollars per ton, a decrease of 115 US dollars per ton compared to the previous month.

Market outlook

Overall, after the price falling back, the enthusiasm for downstream replenishment improved, and it is expected that the propane market will be slightly weaker in the short term.

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