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SunSirs: Domestic Propane Market Was Widely Downward

January 16 2020 13:10:32     SunSirs (John)

Price trend

According to the data of SunSirs, the domestic market for propane has fallen broadly. As of January 14, the average domestic market price for propane was 4,867.5 RMB/ton. Prices were up 16.03% from the same period of last month and up 15% from the same period of last year.

 

Analysis review   

Product: On January14, the propane (Shandong) market fell broadly, and the market transaction atmosphere was light. The Shandong region lowered it by 100-200 RMB/ton. The current ex-factory price was 4,800-5,000 RMB/ton, and most fell to below 5,000 RMB/ton. In the morning, the international crude oil continued to fall and closed, which was negative for the market mentality. The downstream mentality was cautious and mostly wait-and-see. In the early period, propane has risen to a high level, and the downstream acceptance capacity is limited. In addition, the current international market news is negative. Most of the refineries have lowered their prices, mainly to benefit shipments. CP is currently expected to fall in February.

 

Market outlook

At present, the propane market is mainly weakened, and the trading atmosphere is light. The downstream market is generally enthusiastic, and more wait-and-see is the main part. The inventory of the refinery is at a relatively high level, and the price is lowered to give priority to shipments. It is expected that there is still room for downward adjustment in the short term.

 

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