In March, the propane market reopened the upward channel, and the price continued to rise, breaking the 4500 yuan level. According to the data monitoring of business news agency, the average propane market price was 3980.00 yuan / ton on March 1 and 4520.75 yuan / ton on March 31, with an increase of 13.59% in March, up 8.93% compared with February 1. As of March 31, the market prices of propane in China are as follows:
31 Mar 2005
Propane in East China,% (V / V) not less than: 95 4210-4350 yuan / ton
In North China,% (V / V) is not less than 95.4300-4400 yuan / ton
In Shandong Province,% (V / V) propane is not less than 95 4400-4500 yuan / ton
Propane in Central China,% (V / V) not less than: 95 4250-4560 yuan / ton
In March, Shandong propane Market showed a shock upward trend, the price center moved up, and the increase in that month was more obvious. According to the trend chart, it is obvious that Shandong propane market started to rise on the 4th, and the price rose significantly on the 8th. Shandong propane market rose by 5.58% on a single day, with an increase range of 100-240 yuan / ton. The positive factors in the first ten days were mainly driven by international crude oil. The results of the OPEC + meeting finally came to fruition, and the organization agreed to extend the oil production reduction to April. Saudi Arabia, the leader of OPEC, said that it would extend the plan of voluntarily reducing production by 1 million barrels per day and decide when to phase out the reduction in the next few months. In addition, Russia and Kazakhstan were allowed to increase production by 130000 B / D and 20000 B / D respectively. The results of the meeting exceeded market expectations and pushed the oil price up to the highest level in more than a year. The propane market is driven by international crude oil, and the price rises one after another. However, in the middle of the year, the international crude oil continued to fall sharply, which had a negative impact on the propane Market. On the 17th, the propane Market showed a significant decline, but the weakness was only a few days. With the rebound of crude oil, the demand for storage and replenishment in the downstream, the enthusiasm for entering the market was good, and the overall trading atmosphere of the market was mild. The manufacturer’s inventory remained at a low level, and the overall market supply was low. On the 21st, the market returned to the upward channel again, and the price remained firm until the end of the month.
In terms of international market, Saudi Aramco announced in April that there was a downward trend in propane butane. Propane was 560 US dollars / ton, down 65 US dollars / ton compared with the previous month; butane was 530 US dollars / ton, down 65 US dollars / ton compared with the previous month.
With the introduction of CP price drop in April, which brought some restraint to the market, most of the market prices in Shandong stabilized. After the end of the downstream stage replenishment, the enthusiasm for entering the market has weakened. In the later stage, the weather is warming and the market demand is expected to weaken, but the supply side is relatively sufficient. In addition, the international crude oil trend is volatile, the cost of imported gas is falling, and the propane market is not strong enough. It is expected that the domestic propane market price will be stronger in the short term, but it is still likely to decline in the long term.
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