This week, the domestic propane market price is mainly weak, and the market price in Shandong falls first and rises later. According to the data monitoring of business agency, the average price of propane in Shandong market was 6688.25 yuan / ton on May 16 and 6563.25 yuan / ton on May 24. The decline rate in the week was 1.87%, up 51.03% compared with the same period last year.

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

Region, May 24th

South China, 6450-6550 yuan / ton

North China, 6500-6600 yuan / ton

Shandong Province, 6400-6700 yuan / ton

Northeast China, 6500-6650 yuan / ton

This week, the overall trend of the domestic propane market was weak. The propane Market in Shandong fell first and then rebounded, with a decline greater than the increase. At present, there are obvious negative factors in the market. Recently, as the weather continues to heat up and the terminal demand is weak, the downstream maintains replenishment on demand, and the overall transaction atmosphere of the market is limited. In the early stage, the manufacturer’s shipment was poor, and the price was dominated by continuous profit making shipment. In the later stage, the rise of international crude oil brought obvious support to the market, and Shandong propane market rebounded, but the range is still limited.

Saudi Aramco announced in May 2022 that both propylene and butane fell. Propane was 850 USD / T, down 90 USD / T from the previous month; Butane is 860 US dollars / ton, down 100 US dollars / ton compared with the previous month.

At present, the upward international crude oil price has brought obvious support to the propane Market, but the lack of terminal demand still brings obvious resistance to the market. The downstream mentality is more cautious, mainly wait-and-see, and the market trading atmosphere is limited. It is expected that the market price of propane or upward space is limited, and the price consolidation is mainly.