SunSirs: The Propane Market Fell in Shock This Week (March 6-10)
March 14 2023 11:40:51 SunSirs (John)
Price trend
The propane market in Shandong continued to decline this week. According to the data monitoring of SunSirs, the average market price of propane in Shandong was 5,900 RMB/ton on March 10, and 5,835 RMB/ton on March 10, with a decline of 1.1% in the week, and down 24.1% from the same period last year.
Analysis review
This week (3.6-3.10), Shandong propane market continued its decline, with the decline in the north greater than that in the south. The overall performance of the domestic propane market this week was weak, and the downstream wait-and-see atmosphere was strong. Most of the mainstream market prices followed the market, and the upstream shipping willingness was obvious. As of this Friday, the mainstream price of Shandong propane market was 5,750-5,850 RMB/ton.
Saudi Aramco introduced CP in March 2023, and propane was 720 US dollars/ton, down 70 US dollars/ton from the previous month; Butane was 740 US dollars/ton, down 50 US dollars/ton from last month.
Market outlook
In general, the import market was weak, the downstream products were not profitable, and the market was still bearish. It is expected that the propane market will operate in a weak and volatile manner in the next week.
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