SunSirs: The Propane Market Saw a Slight Increase This Week (April 15-19)
April 23 2024 11:31:02 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 15th, the average price of propane in Shandong's market was 5,195 RMB/ton, and on April 19th, the average price was 5,240 RMB/ton, an increase of 0.87% in the cycle and 1.16% compared to the same period last year.
Analysis review
This week (4.15-4.19), the propane market in Shandong Province saw a slight increase. Recently, the upstream supply situation had been good, with low inventory and tight supply, actively pushing for an increase. Downstream demand for entry into the market was still acceptable. The performance of the southern market was weak, with low enthusiasm for downstream entry. The market transaction center had shifted downwards, and the overall performance of the market was strong in the north and weak in the south.
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 US dollars/ton, butane was 652 US dollars/ton.
Market outlook
Overall, the propane market is expected to experience narrow fluctuations in the short term due to the impact of surrounding low prices and limited downstream demand growth in the future.
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- 2024-04-01 SunSirs: The Propane Market Was Weakly Declined in March
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