Source: Jintou.com
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 with the same period last year.
In November, the domestic propane market as a whole rose. The Shandong propane market rose significantly in the first half of the year, and then started to fluctuate and fell until the end of the month. At the beginning of the month, the price of CP rose in November, which boosted the confidence of the industry, superimposed the inventory status on the market, and replenished goods downstream in stages, driving up the price. As of 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 price of crude oil fell several times, which suppressed the mentality of the industry. At the same time, affected by many negative factors such as poor transportation and high temperature, companies sold goods at a profit, and the market fell at the end of the month.
Saudi Aramco will launch 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, the support of the cost side is weak, and the demand is squeezed by various influences. It is expected that the propane market price will be weak in December, or it will fluctuate downward.
(Article source: SunSir)
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