SunSirs: The Propane Market Fluctuated Weakly This Week (September 11-15)
September 19 2023 09:48:58 SunSirs (John)
Price trend
This week, domestic Shandong propane first fell and then rose. According to the Commodity Market Analysis System of SunSirs, the average price of propane in Shandong on September 11th was 5,495 RMB/ton, and on September 15th it was 5,508 RMB/ton. The weekly increase was 0.23%, and a decrease of 6.89% compared to the same period last year.
Analysis review
This week (September 11th to September 15th), the Shandong propane market was mainly down, with a slight rebound on Friday. At the beginning of the week, due to the rise of propane prices to a high level, downstream resistance was evident, upstream supply was not smooth, and in addition to the decline in international oil prices, propane prices were adjusted downwards. Subsequently, crude oil prices rose, boosting market sentiment, with some factories pushing up slightly while most prices remained stable.
Saudi Aramco's September CP was introduced, with propane at 550 US dollars per ton, an increase of 80 US dollars per ton compared to the previous month; Butane was 560 US dollars per ton, an increase of 100 US dollars per ton compared to the previous month.
Market outlook
Overall, the price of propane was still at a high level, the enthusiasm for downstream market entry was low and the procurement volume was reduced. It is expected that propane will continue to decline in the short term.
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
