Price trend
On August 1st, the Shandong propane market continued its upward trend, with mainstream prices ranging from 4,500 to 4,800 RMB/ton. At the beginning of the week, the Shandong propane market began to rise broadly.
Analysis review
Due to low inventory in the region, refineries were actively pushing up prices, reaching high levels. At the same time, CP prices had risen, further effectively boosting propane prices and continuing to rise. As of August 1st, there had been resistance from downstream towards high priced goods sources, especially the tightening of PD device profits, which will affect the construction in the later stage.
Market outlook
It is expected that in the short term, the resistance to the continuous rise of propane will increased in the future, and the rise will be limited.
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