After stepping into the traditional “silver ten”, propane peak season effect is obvious. After the 11 small holidays, propane prices have been pushed up to 4000 yuan / ton. According to the data monitoring of the business agency, the average market price of propane was 3277.50 yuan / ton on October 8 and 3737.50 yuan / ton on October 23, with an increase rate of 14.04% and an increase of 8.10% compared with September 1.
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In October, propane Market showed a continuous upward trend. Most of the ex factory prices in Shandong market have risen to about 3800 yuan / ton. At present, the market trend is still strong, breaking through the 4000 yuan / ton mark is close at hand. With the advent of the traditional sales season, the rise is expected. In the international market, the high import cost has brought support to the market. After the festival, the weather dropped significantly, the temperature dropped, the terminal demand increased, and the downstream replenishment cycle shortened, which brought obvious benefits to the market. In terms of supply, domestic refineries partially overhauled in October, and the market supply decreased, which also brought some support to the market. The mentality of the downstream is good and the enthusiasm of entering the market is high. Manufacturers to ship smoothly, inventory is mostly at a low level, strong mentality, prices continue to push up. Strong bullish attitude towards the future market, positive market entry, good atmosphere for market transactions. Refinery mentality is firm, continuously increase factory prices, inventory is mostly in low level.
Although the domestic propane market is on the rise as a whole, there are still differences between the South and North markets. Due to the obvious cooling of the weather in the northern market, the demand has increased substantially, and the price has been mainly pushed up. The rise of the southern market was not as obvious as that of the northern market. During this period, some of them fell, but in the later stage, with multiple favorable conditions, it entered the upward channel. As of October 23, the mainstream prices of propane in different regions in China are as follows:
Regional specification October 23
Propane in East China,% (V / V) not less than: 95 3350-3600 yuan / ton
Propane in North China,% (V / V) not less than: 95 3710-3750 yuan / ton
Propane in Shandong area,% (V / V) not less than: 95.3650-3750 yuan / ton
Propane in South China,% (V / V) not less than: 953700-3750 yuan / ton
Propane in Central China,% (V / V) not less than: 953800-3950 yuan / ton
In terms of international market, Saudi Aramco released CP in October 2020, with propane at 375 USD / T, up by 10 USD / T compared with last month, and butane at 380 USD / T, up by 25 USD / T compared with last month. Near the end of the month, CP will be released in November, and the current expectation is rising, which is good for the market mentality.
At present, the international crude oil shows a downward trend, which brings some restraint to the rising market. The demand side and supply side support the price rise one after another. The current peak season effect is obvious. The downstream market entry enthusiasm is better, the manufacturers’ shipment is smooth, the inventory is mostly maintained at a low level, and the mentality is mostly firm. It is expected that the propane market will still rise in the future.
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