Continuous decline of propane market

This week, the domestic propane market trend was weak, and Shandong propane market fell one after another, with significant amplitude. According to the data monitoring of the business community, the average price of Shandong propane market was 5865.75 yuan/ton on October 17 and 5738.25 yuan/ton on October 21, with a weekly drop of 2.17%, 21.78% lower than the same period last year.

 

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As of October 21, the mainstream prices of propane in different regions in China are as follows:

Region, October 21

South China, 5350-5450 yuan/ton

North China, 5900-5950 yuan/ton

Shandong, 5700-5750 yuan/ton

Northeast China, 5800-5900 yuan/ton

This week (10.17-21), the domestic propane market trend was weak, and the factory price of Shandong propane market fell continuously, with a relatively obvious range. During the week, negative factors in the market dominated, and in terms of cost, international crude oil prices mainly declined, affecting the market mentality. In addition, the decline in the price of the external market and the low cost of imported gas have brought obvious negative effects. The manufacturer has successively lowered the ex factory quotation, mainly for profit delivery. Downstream maintains replenishment on demand and is cautious.

 

Saudi Aramco announced in October 2022 that both propane and butane fell. Propane was 590 dollars/ton, down 60 dollars/ton from last month; Butane was 560 dollars/ton, down 70 dollars/ton from last month.

 

To sum up, although the benefits from current costs are limited, terminal demand is expected to increase in the later period as the weather continues to cool. It is expected that the propane market may rise in the short term.

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