SunSirs: Propane Market Rose in a Narrow Range This Week (February 13-17)
February 20 2023 14:32:23 SunSirs (John)
Price trend
Shandong propane market rose slightly this week. According to the data monitoring of SunSirs, the average market price of propane in Shandong was 6,237 RMB/ton on February 13 and 6,282 RMB/ton on February 17, with a weekly increase of 0.72%, and up 4.09% from the same period last year.
Analysis review
This week (2.13-2.17), the propane market in Shandong rose slightly, and the support for price was general. The overall performance of the domestic propane market this week was weak, with the southern market falling significantly and the northern market rising slightly due to the decrease in supply. Downstream demand was weak, the peak combustion demand season had passed, and the demand of chemical industry continued to decline. Affected by the demand side, the propane market was sorted out in a narrow range. As of this Friday, the mainstream price of Shandong propane market was 6,250-6,350 RMB/ton.
Saudi Aramco introduced CP in February 2023, and propane was 790 US dollars/ton, up 200 US dollars/ton from last month; Butane was 790 US dollars/ton, up 185 US dollars/ton from last month.
Market outlook
In general, constrained by the demand side, it is difficult to say whether it is good or not in the future. Under the condition that the supply volume changes little, it is expected that the propane market in the short term will be dominated by weakly downward in shock in the future.
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