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SunSirs: Inventory Is Controllable and Domestic Propane Market Continues to Rise
February 19 2020 10:23:05SunSirs(John)

Price trend

In the past week, the domestic propane market continued to rise. On February 10, the average price of the propane market was 3,700 RMB/ton, and on February 17, the average price was 3,857.5 RMB/ton, up 4.26% in seven days. The price was 4.64% lower than the same period last year.


Analysis review   

Product: In the past week, the domestic propane market has continued to rise, and the market transaction atmosphere is relatively mild. As of February 17, Shandong Dongming Petrochemical's propane has ceased to be available for use, and Shandong Haiyou Petrochemical Group's propane is out of stock and will not be quoted for the time being. The ex-factory price of propane for Tianjin Bohai Chemical Group Supply and Marketing Company is 3,700 RMB/ton, the ex-factory price of propane for Shandong Dongying Hualian Petrochemical Co., Ltd. is 3,680 RMB/ton, the ex-factory price of propane for Shandong Huifeng Petrochemical is 3,950 RMB/ton, Shandong Hengyuan Petrochemical Co., Ltd. Co., Ltd.'s ex-factory price is 3,950 RMB/ton, Shandong Binzhou Dayou Group's ex-factory price is 3,750 RMB/ton, and Sinopec Qingdao Refining & Chemical Co., Ltd.'s ex-factory price is 3,950 RMB/ton.

The rise in international crude oil has brought a certain boost to the market, and civilian gas has stopped falling and rebounded, which has brought positive results. The downstream inventory replenishment demand, coupled with the gradual recovery of transportation in various places, the overall market transaction atmosphere improved. Manufacturers' shipments are relatively smooth, and inventory pressure has gradually eased. It is currently under control and continues to rise.

Saudi Aramco issued CP in February, with propane of 505 US dollars/ton, down 60 US dollars/ton compared with the previous month; butane of 545 US dollars/ton, down 45 US dollars/ton compared with the previous month.

Industry: According to the monitoring of the price of SunSirs, in the 06th week of 2020 (2.10-2.14), there were 16 kinds of commodities in the chemical sector that rose on the list of commodity prices, among which dichloromethane (5.00%), polyaluminium chloride (3.54%) and propane (3.38%) were the top three commodities. There were 18 kinds of commodities falling on a month on month basis, with 2 kinds of commodities falling by more than 5%, accounting for 2.4% of the number of commodities monitored in the sector; the top 3 products falling were butadiene (- 13.52%), propylene oxide (- 5.11%) and liquid ammonia (- 4.89%). This week's average increase or decrease was -0.26%.


Market outlook

With the gradual recovery of transportation, the replenishment of downstream stocks, the stocks of manufacturers have eased, the current inventory is controllable, coupled with the decrease in domestic supply, the mentality is relatively firm. It is expected that the market trend will be good in the short term and there is a possibility of continued upward movement.


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