SunSirs: High Inventory, Propane Was Falling under Pressure
April 08 2024 11:06:43 SunSirs (John)
Price trend
After the holiday, domestic propane prices were under pressure and were declining. On April 7th, the average price of propane dropped from 5,190 RMB/ton on April 1st to 5,118 RMB/ton, a decrease of 1.4% during the cycle.
Analysis review
At the beginning of the month, the on-site sales were not smooth, and inventory was high. Later, facing the Qingming Festival holiday, transportation capacity decreased, resulting in increased pressure on on-site inventory. Downstream market entry enthusiasm was not high, and propane prices were lowered after the holiday. Downstream dipped into the market.
Market outlook
It is expected that low prices will improve in the short term, with high prices mainly decreasing.
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