SunSir: The Propane Market Was Actively Driving Up This Week (August 21-25)
August 28 2023 14:08:21 SunSirs (John)
Price trend
This week, propane in Shandong, China, shifted from a decline to an increase and continued to rise. According to the Commodity Market Analysis System of SunSirs, the average market price of propane in Shandong was 5,220 RMB/ton on August 21, and 5,355 RMB/ton on August 25. The weekly increase was 2.59%, and a decrease of 8.15% compared to the same period last year.
Analysis review
The Shandong propane market continued to rise this week (8.21-8.25). Based on the significant decline during the weekend last week, the mainstream price in Shandong this Friday was 5,350-5,400 RMB/ton, which was the same as last Friday's price. Especially recently, propane prices had increased significantly, and downstream markets were cautiously entering the market. At the beginning of the week, the price significantly decreased, with a range of 100-200 RMB/ton. Subsequently, the enthusiasm for downstream market entry increased, and the trading atmosphere improved. In addition, the market had a positive expectation for September, and on-site inventory remained low, upstream actively pushed up.
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 inventory in the Shandong propane market remained at a relatively low level, and there was still room for improvement in the future. The CP will be introduced soon in September, and it should pay closely attention to the changes in the market production and sales situation.
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
