Price trend

This week, the domestic propane market price was relatively firm, and the Shandong market fluctuated within a narrow range, with the price first low and then high. According to the data monitoring of SunSirs, the average price of propane in Shandong on July 5 was 6,050.75 RMB/ton, and the average price on July 12 was 6,068.25 RMB/ton, with an increase of 0.29% during the week, and an increase of 27.80% compared with the same period last year.

Analysis review

This week, the domestic propane market was generally stable, and the Shandong propane market was mainly organized in a narrow range, with prices first low and then high. During the week, the market price of the international crude oil first fell and then rose, which brought periodic benefits to the market. There was a replenishment operation in the downstream recently, and the enthusiasm for entering the market improved compared with the previous period, and the market trading atmosphere was acceptable. The Shandong market had no pressure on supply, which had brought certain support to the market. Most of the shipments were stable, and some had slightly increased.

Saudi Aramco's July 2022 CP announced that both propane and butane fell. Propane was 725 US dollars/ton, down 25 US dollars/ton from the previous month; butane was 725 dollars/ton, down 25 dollars/ton from the previous month.

Market outlook

At present, the market price of propane in Shandong is relatively strong, and the quotation is mostly around 6,000 RMB/ton. There is no obvious pressure on the supply of the Shandong market. The downstream supplies are replenished on demand, and the enthusiasm for entering the market is acceptable. In addition, the international crude oil market first fell and then rose, and the propane market followed the trend, and the price was low first and then high, but the overall fluctuation range was limited due to the negative impact. It is expected that the propane market may continue to consolidate in a narrow range in the short term.

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