Price trend

According to the commodity market analysis system of SunSirs, the domestic Shandong propane market fluctuated and rose this week. On May 6th, the average price of propane in Shandong's market was 5,250 RMB/ton, and on May 10th, the average price was 5,290 RMB/ton, an increase of 0.76% during the cycle, and an increase of 8.9% compared to the same period last year.

Analysis review

This week (5.6-5.10), the propane market in Shandong slightly increased, and the market atmosphere was still good. Upstream sales were relatively smooth during the week, with low inventory levels and a strong attitude of pushing up prices. The resumption of work in some downstream chemical plants had increased the demand for propane, supporting the rise in propane prices. The weekend market saw a slight correction in propane prices due to increased resistance from downstream towards high priced propane.

Saudi Aramco announced its CP of May 2024, with propane at 580 US dollars per ton, a decrease of 35 US dollars per ton compared to the previous month; Butane is 585 US dollars per ton, a decrease of 35 US dollars per ton from the previous month. Equivalent cost in onshore US dollars: 615 US dollars/ton for propane and 625 US dollars/ton for butane.

Market outlook

Overall, the demand support is still fair in the future, and the supply side remains stable. It is expected that the propane market will experience narrow fluctuations in the short term.

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