This week, the domestic propane market increased largely, the decline and rise of Shandong propane Market stopped, and the price returned to above 6000 yuan / ton. According to the data monitoring of business agency, the average price of propane in Shandong market was 5768.25 yuan / ton on January 17 and 6048.25 yuan / ton on January 24. The increase rate in the week was 4.85%, an increase of 4.63% compared with January 1.

As of January 24, the mainstream prices of propane in different regions in China are as follows:

region January 24th

East China 5850-6200 yuan / ton

North China 5900-6100 yuan / ton

Shandong region 5950-6110 yuan / ton

Northeast China 5900-6350 yuan / ton

This week, both the north and the south of the domestic propane market increased to varying degrees. The propane Market in Shandong rose significantly, and the average price rose to above 6000 yuan / ton. During the week, the positive factors were obvious. The continuous rise of international crude oil brought obvious support to the market. The price of international propane spot market was strong. In addition, in terms of market supply, the overall supply of Shandong changed little. In terms of demand, the downstream market entry was more active before the festival. The manufacturers’ shipment was smooth as a whole, their mentality was strong, and the price increased actively.

Saudi Aramco announced in January 2022 that both propylene and butane fell. Propane was 740 USD / T, down 55 USD / T from the previous month; Butane 710 US dollars / ton, down 40 US dollars / ton compared with the previous month.

Although the propane Market in Shandong still increased, the international crude oil price fell on the 24th, which brought limited support to the market. With the end of replenishment in the downstream, the demand was expected to decrease, but the low supply market brought some support. It is expected that the pre holiday price of propane market will remain strong.