Source: www.jintou.com
In November, the domestic propane market fluctuated and rose, and the Shandong propane market struggled to rise. According to SunSirs monitoring data, the average propane price in Shandong was 5,670 yuan/ton on November 1 and 5,795 yuan/ton on November 25, an increase of 2.19% in the month and a decrease of 3.594 % over the same period last year.
In November, the domestic propane market as a whole increased, the propane market in Shandong increased significantly in the first half of the year, and then started to fluctuate and decreased 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 state of inventories on the market, and gradually replenished downstream commodities, driving up the price. As of November 9, the price of propane rose to 5,832 yuan/ton, an increase of 2.85% since the beginning of the month. Subsequently, crude oil prices 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 temperatures, companies sold goods at a profit and the market collapsed. at the end of the month.
Saudi Aramco to launch CP in November 2022, with propane at US$610/ton, up US$20/ton from previous month; butane at US$610/ton, up US$50/ton from the previous month. .
Overall, cost side support is weak and demand is being squeezed by various factors: Propane market price is expected to be weak in December or swing lower.
(Article source: SunSir)
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