SunSirs: Sales Were Sluggish, Propane Continued to Decline
January 15 2024 09:52:26 SunSirs (John)
Price trend
On January 12th, the propane market in Shandong continued to decline, with mainstream market prices ranging from 5,250 to 5,350 RMB/ton.
Analysis review
In recent times, international oil prices had continued to decline, and the negative news had intensified. At the same time, downstream buyers had a strong mentality of buying up rather than falling, which led to a bearish outlook on the future market. This had led to an increase in inventory on the market, an increase in upstream supply pressure, and a lack of smooth supply of high priced goods.
Market outlook
Over the weekend, oil prices stopped falling and rebounded, boosting the mentality of businesses. It is expected that propane will stabilize at a low level in the short term and continue to decline from a high level.
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