SunSirs: Production and Sales Were Under No Pressure, and the Propane Market Continued to Rise
August 14 2023 14:11:54 SunSirs (John)
Price trend
This week, domestic Shandong propane continued to rise, exceeding 5,000 RMB/ton. According to the Commodity Market Analysis System of SunSirs, the average price of propane in Shandong on August 7th was 4,818 RMB/ton, and on August 11th it was 5,363 RMB/ton. The weekly increase was 11.31%, and a decrease of 4.37% compared to the same period last year.
Analysis review
This week (8.7-8.11), the Shandong propane market rose strongly, with multiple broad increases of 150-200 RMB/ton. Due to the limited supply of goods in northern ports and the maintenance of some enterprise installations, the supply in the region had tightened. The Shandong market led the rise, while downstream buyers entered the market. Upstream shipments were smooth, inventory remained low, and low supply and high demand supported the continuous rise in propane prices.
Saudi Aramco's August CP was introduced, with propane at 470 US dollars per ton, an increase of 70 US dollars per ton compared to the previous month; Butane was 460 US dollars per ton, an increase of 85 US dollars per ton compared to the previous month.
Market outlook
Overall, the propane price had risen to a high level, and downstream resistance to high priced sources had increased. With downstream restocking approaching its end in the future, it is expected that the propane market will rise from a low level and stabilize from a high level.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-30 SunSirs: The Propane Market Saw a Slight Increase in April
- 2024-04-23 SunSirs: The Propane Market Saw a Slight Increase This Week (April 15-19)
- 2024-04-15 SunSirs: The Propane Market Saw a Slight Increase This Week (April 8-12)
- 2024-04-08 SunSirs: High Inventory, Propane Was Falling under Pressure
- 2024-04-01 SunSirs: The Propane Market Was Weakly Declined in March
