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SunSirs: The Propane Market Rose First and Then Fell in November, and the Future Market Is Not Optimistic

November 29 2022 11:42:05     SunSirs (John)

Price trend

In November, the domestic propane market rose in shock, while the Shandong propane market rose in difficulty. According to the data monitoring of SunSirs, the average price of propane in Shandong market was 5,670 RMB/ton on November 1, and 5,795 RMB/ton on November 25. The monthly increase was 2.19%, and down 3.594% compared with the same period last year.

Analysis review

In November, the domestic propane market rose as a whole. The Shandong propane market rose significantly in early November, and then began to shake down to the end of the month. At the beginning of the month, the CP price rose in November, boosting the confidence of the industry. With the status of on-site inventory, the downstream staged replenishment, the price rose. As of November 9, the price of propane had risen to 5,832 RMB/ton, up 2.85% from the beginning of the month. Subsequently, the price of crude oil fell for many times, which depressed the mentality of the operators. At the same time, affected by poor transportation, high temperature and other negative factors, the enterprises gave up profits to sell goods, and the market fell at the end of the month.

Saudi Aramco introduced CP in November 2022, and propane was 610 US dollars/ton, up 20 US dollars/ton from last month; Butane was US 610 dollars/ton, up US 50 dollars/ton from last month.

Market outlook

In general, the cost side support is weak, and the demand is squeezed by various influences. It is expected that the propane market price will be weak in December, which may be dominated by decline in shocks.

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