Price trend
The propane market fluctuated frequently in July, and the overall market showed a volatile upward trend. There were many positive factors in July. According to the data monitoring of SunSirs, the average market price of propane in Shandong on July 1 was 4,543.25 RMB/ton, and the average price on July 31 was 4,748.25 RMB/ton. The overall increase in July was 4.51%, an increase of 41.74% compared to the same period last year.
Analysis review
The Shandong propane market fluctuated frequently in July, but the overall market focus shifted upward. At the beginning of July, the propane market welcomed a good start, and prices continued to rise to high levels. After the introduction of CP in July, both propane and butane rose sharply, and the high import cost brought a significant boost to the domestic market. The international crude oil market rose sharply, which also brought favorable support to the market. Both the northern and southern markets increased in varying degrees. However, with the decline of international crude oil in the later period, the market's favorable factors were insufficient, and the price fell. However, the high port price brought significant support to the market. On the 18th, the Shandong propane market rose again within the month, until the end of the month ended with a shock in July. The overall market shipment situation was acceptable, but the north and south trends showed a certain deviation in the second half of the month.
Saudi Aramco announced in August CP that both propane and butane rsoe. Propane was 660 US dollars/ton, an increase of 40 US dollars/ton from the previous month; butane was 655 US dollars/ton, an increase of 35 US dollars/ton from the previous month.
Market outlook
Due to seasonal factors, the off-season has not passed, and terminal demand is still weak, which has brought certain restraints to the rising market. However, when the CP was released in August, propane and butane continued to rise, the high import cost has brought significant support to the domestic market, and the international crude oil is running at a high level. It is expected that the propane market may still rise in August.
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