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SunSirs: Favorable Factors Dominated, Propane Market Stopped Falling and Rose Up

January 26 2022 14:16:01     SunSirs (John)

Price trend

This week, the domestic propane market was adjusted upwards, and the Shandong propane market stopped falling and rose, and the price returned to above 6,000 RMB/ton. According to the data monitoring of SunSirs, the average price of propane in Shandong on January 17 was 5,768.25 RMB/ton, and the average price on January 24 was 6,048.25 RMB/ton, an increase of 4.85% during the week, an increase of 4.63% compared with the price on January 1.

Analysis review

This week, the domestic propane market increased to varying degrees in the north and south, and the Shandong propane market rose significantly, with the average price rising above 6,000 RMB/ton. The positive factors were obvious during the week. The continuous increase in international crude oil brought obvious support to the market. The international spot market price of propane was firm. In addition, in terms of market supply, the overall supply in Shandong did not change much. In terms of demand, the downstream market was more active before the holiday. The overall shipment of manufacturers was smooth, the mentality was strong, and the price was actively increased.

Saudi Aramco's January 2022 CP announced that both propane and butane fell. Propane was 740 US dollars/ton, down 55 US dollars/ton from the previous month; butane was 710 US dollars/ton, down 40 US dollars/ton from the previous month.

Market outlook

Although the Shandong propane market is still rising, the international crude oil price fell on the 24th, which brought limited support to the market. With the end of downstream replenishment, the demand side is expected to decrease, but the low supply market brings certain support. The propane market is expected to remain firm before the holiday.

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