Source: Jintou.com
According to SunSirs data monitoring, the average price of propane in Shandong was 5,752 yuan/ton on November 14, and 5,782 yuan/ton on November 18, an increase of 0.52% within the week, and a decrease of 3.27% compared with the same period last year.
This week (November 14-November 18) the domestic propane market was stable and the price performance was firm. The Shandong propane market maintained a slight increase. Recently, the national public health incidents have gradually opened up, transportation has begun to return to normal, demand has gradually recovered, and the transaction atmosphere has improved. At the same time, the supply of goods at the port is not much recently, and propane companies have smooth delivery of goods, no pressure on inventory, and a strong willingness to raise prices. Affected by the sharp drop in crude oil on Friday, the market sentiment was suppressed, and downstream goods were slightly cautious in receiving goods.
Saudi Aramco will introduce CP in November 2022, with propane at US$610/ton, an increase of US$20/ton from the previous month; butane at US$610/ton, an increase of US$50/ton from the previous month.
On the whole, on the whole, crude oil on the cost side has fallen sharply, and the liquefied gas market has fluctuated, dragging propane up to explore the market. It is expected that the resistance to rising in the propane market will increase in the near future, and it may start to consolidate.
(Article source: SunSir)
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