In September, the trend of domestic propane market was mainly downward. Shandong propane market as a whole showed a “downward slide” trend, and it did not rise by a small margin until the end of the month. According to the data monitoring of the business community, the average price of Shandong propane market was 6015.75 yuan/ton on September 1, and 5703.25 yuan/ton on September 26. The monthly drop was 5.19%, up 0.71% compared with the same period last year.
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As of September 26, the mainstream prices of propane in different regions in China are as follows:
Region, September 26
In South China, 5450-5550 yuan/ton
North China, 5650-5800 yuan/ton
Shandong, 5650-5750 yuan/ton
Northeast China, 5700-5800 yuan/ton
In September, the domestic propane market was weak as a whole, and the Shandong propane market decreased significantly by 150-300 yuan/ton. There were obvious negative market factors in the month. In terms of the international market, propane and butane both fell in September when the CP was introduced. In addition, the international crude oil market fluctuated in the first half of the month and fell in the second half. The cost was bad for the market. In terms of supply, Shandong Refinery had sufficient supply in September, but in terms of demand, due to the lack of obvious temperature drop, the increase of terminal demand was relatively limited, and the downstream was cautious, mostly wait-and-see, with poor enthusiasm for entering the market. The manufacturer periodically lowered the quotation to stimulate downstream market entry. At the end of the month (26th), affected by the National Day holiday, Shandong propane market stopped falling and rose due to the replenishment operation in the downstream before the holiday.
Saudi Aramco announced in September 2022 that both propane and butane fell. Propane was 650 dollars/ton, down 20 dollars/ton from the previous month; Butane was 630 dollars/ton, down 30 dollars/ton from last month.
On the whole, the current CP price is expected to fall in October, and the international crude oil price is lowered, which is bad for the market. The terminal demand in September was not improved enough, the downstream was cautious, and the market trading atmosphere was general. Shandong market has abundant supply within a month. There is a demand for warehouse discharge before the National Day holiday. The downstream market starts replenishment before the National Day holiday. The market trading atmosphere has improved. Shandong propane market has seen a slight increase at the end of the month. It is expected that in the short term, the propane market will be dominated by consolidation, and the adjustment range will be limited.