Price trend

According to the commodity market analysis system of SunSirs, the domestic Shandong propane market continued to rise this week. On May 20th, the average price of propane in Shandong's market was 5,298 RMB/ton, and on May 24th, the average price was 5,393 RMB/ton, an increase of 1.79% during the cycle and a 19.83% increase compared to the same period last year.

Analysis review

This week (5.20-5.24), the propane market in Shandong continued to rise, and the market atmosphere was still good, with a decline in the southern region. During the week, the supply in the Shandong market was tight, with low inventories, and supported by high port prices, propane prices rose. The downstream chemical demand was stable, and the operation of the equipment remained stable, with a focus on essential needs.

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 was 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, there was not much change in the demand side, and supply remained tight. It is expected that the propane market will experience volatility at high levels in the short term.

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