Upstream Support Is Obvious, Propane Market Is Weak First And Then Strong

The domestic propane market fluctuated and rose, and the Shandong market as a whole showed a trend of weakness first and then strength, and the overall price rose mainly. According to data monitoring, the average price of propane in Shandong on April 11 was 6,625.75 CNY/ton, and the average price on April 15 was 6,843.25 CNY/ton, with an increase of 3.28% during the week, and an increase of 42.55% compared with the same period last year.

The domestic propane market in the north and south is in varying degrees, and the Shandong propane market is first weak and then strong. During the week, the market was empty and good, and the market price of propane in Shandong weakened in the early stage of the week. Due to limited terminal demand, the enthusiasm for downstream entry into the market was not high, and the market trading atmosphere was mediocre, and manufacturers mainly shipped at profit. At the end of the week, the positive factors were obvious, and the upward trend of international crude oil brought a significant boost to the market, and the price of Shandong propane market rebounded.

Saudi Aramco announced in April 2022 that propane butane has risen. Propane was $940/ton, up $45/ton from the previous month; butane was $960/ton, up $40/ton from the previous month.

On the whole, the current market in the north and south has various degrees of upward movement. The upward trend in the northern market is more obvious. There is little pressure on the market supply, but the terminal demand is still weak, and the enthusiasm for entering the market in the downstream is limited. In the long run, there is still a possibility of weakness.