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SunSirs: The Propane Market Saw a Slight Increase This Week (April 8-12)

April 15 2024 15:16:12     SunSirs (John)

Price trend

According to the commodity market analysis system of SunSirs, the domestic Shandong propane market saw a slight increase this week. On April 8th, the average price of propane in Shandong's market was 5,118 RMB/ton, and on April 12th, the average price was 5,183 RMB/ton, an increase of 1.27% in the cycle and 3.29% compared to the same period last year.

Analysis review

This week (4.8-4.12), the propane market in Shandong steadily rose. Influenced by the strengthening of crude oil and the rise of external prices, the market atmosphere was effectively boosted, and trading improved. Domestic propane prices continued to rise. The rise in prices of related liquefied gas products further boosted the propane market. On the demand side, the demand for combustion remained stable, but due to the impact of price increases, downstream market entry enthusiasm was beginning to weaken.

Saudi Aramco announced its CP of April 2024, with propane at 615 US dollars per ton, a decrease of 15 US dollars per ton from the previous month; Butane was 620 US dollars per ton, a decrease of 20 US dollars per ton compared to the previous month. Equivalent to onshore USD cost: Propane was 632 USD/ton, butane was 652 USD/ton.

Market outlook

Overall, there is still an expectation of a decrease in combustion demand in the future, with increasing resistance to further increases. It is expected that the propane market will experience a narrow consolidation in the short term.

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