In November, the domestic propane market fluctuated and rose, and the Shandong propane market struggled to rise. According to SunSirs data monitoring, the average price of propane in Shandong was 5,670 yuan / ton on November 1, and 5,795 yuan / ton on November 25, an increase of 2.19% within the month and a decrease of 3.594% compared to the same last year period.
In November, the domestic propane market rose as a whole. The Shandong propane market rose significantly in the first half of the year, and then began to fluctuate and fall until the end of the month. At the beginning of the month, the price of CP rose in November, which boosted industry confidence, superimposed the inventory status on the market, and replenished downstream goods in stages, raising the price. On November 9, the price of propane rose to 5,832 yuan / ton, an increase of 2.85% from the beginning of the month. Subsequently, the prices of crude oil fell several times, which inhibited the mindset of the industry. At the same time, affected by many negative factors such as poor transportation and high temperatures, companies sold goods at a profit, and the market fell on the end of the month.
Saudi Aramco will launch CP in November 2022, with propane at US$610/tonne, an increase of US$20/tonne from the previous month; butane at US$610/tonne, up US$50/tonne from the previous month. .
Overall, support on the cost side is weak, and demand is being squeezed by various influences. It is expected that the propane market price will be weak in December, or will fluctuate downwards.
(Article source: SunSir)
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