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SunSirs: Domestic Propane Market Fell After Rising This Week (January 6-10)
January 14 2020 10:22:20SunSirs(John)

Price trend

The propane market fell after rising this week. At the beginning of the week, the average price of propane market was 5,220 RMB/ton, and at the end of the week, the average price was 5,087.5 RMB/ton, down 2.54% in the week, 15.76% higher than the same period last year.


Analysis review   

Product: This week, the domestic propane Market Trading atmosphere turned light. As of January 10, Shandong Dongming Petrochemical Co., Ltd. stopped silling propane for its own use, and Shandong Haiyou Petrochemical Group Co., Ltd. had no propane in stock, so the price was not offered temporarily. The ex factory price of propane of Tianjin Bohai Chemical Group supply and marketing company is 5,100 RMB/ton, that of Shandong Dongying Hualian Petrochemical Co., Ltd. is 5,050 RMB/ton, that of Shandong HSBC Petrochemical Co., Ltd. is 5,150 RMB/ton, that of Shandong Hengyuan Petrochemical Co., Ltd. is 5,150 RMB/ton, and that of Shandong Binzhou Dayou group is 5,150 RMB/ton, The ex factory price of propane of Shandong Zhonghai Fine Chemical Co., Ltd. is 5,050 RMB/ton. and that of Sinopec Qingdao Refining Chemical Co., Ltd. is 5,000 RMB/ton.

Propane fell this week in Shandong, but it is still relatively high. The recent wide rise in international crude oil has boosted the market mentality. Propane has continuously pushed up due to its drive. However, as prices continue to rise, downstream demand is limited, and they have withdrawn from the market after the replenishment. The market transaction atmosphere changed from strong to weak. Crude oil plummeted late in the week, affecting the market mentality. Most refineries profited and shipped mainly, but the shipping atmosphere did not significantly improve.

Saudi Aramco's January CP reported a sharp rise in both propylene and butane. Propane rose to $565/ton, up $125/ton from last month, and butane to $590/ton, up $135/ton from last month.

Industry: according to the price monitoring of SunSirs, in the first week of 2020 (1.6-1.10), there are 27 kinds of commodities rising month by month in the list of commodity prices in the chemical industry sector, among which there are 3 kinds of commodities rising by more than 5%, accounting for 3.5% of the number of commodities monitored in the sector; the top 3 commodities are bisphenol A (9.65%), glycol (7.92%), ammonium chloride (5.09%). There are 18 kinds of commodities falling on a month on month basis, and 1 kind of commodities falling by more than 5%, accounting for 1.2% of the number of commodities monitored in this sector; the top three products falling are caustic soda (- 5.22%), chloroform (- 4.55%), sodium metabisulfite (- 3.79%). This week, the average increase or decrease was 0.35%.


Market outlook

Propane analysts of SunSirs believe that the propane market has been affected by international crude oil recently. The current price is still relatively high, and the downstream capacity is limited. As the Spring Festival is approaching, manufacturers' inventory is still to be consumed. It is expected that the trend may be weak consolidation next week.


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