Since May, the overall trend of propane market has been weak, with Shandong propane Market falling most obviously, and the recent price has been declining continuously. According to the data monitoring of business news agency, the average price of propane Market in Shandong Province was 4440.75 yuan / ton on May 13 and 4293.25 yuan / ton on May 19, with a decrease of 3.32% during the period and 4.93% compared with April 1.

As of May 19, the mainstream propane prices in different regions of China are as follows:

region Specifications May 19th

East China Propane,% (V / V) not less than: 95 4100-4400 yuan / ton

North China Propane,% (V / V) not less than: 95 4400-4500 yuan / ton

Shandong Province Propane,% (V / V) not less than: 95 4200-4350 yuan / ton

South China Propane,% (V / V) not less than: 95 4000-4050 yuan / ton

Central China Propane,% (V / V) not less than: 95 4500-4510 yuan / ton

In fact, after entering the middle of April, the propane market began to decline. Recently, the market was dominated by negative factors, and the price was weakening one after another, especially in Shandong market. In the international market, with the introduction of Saudi Aramco CP in May, there was a sharp drop in the cost of imported gas and a bad market attitude. In terms of international crude oil, the support to the market brought by the recent volatile decline of international crude oil is limited. On the demand side, with the rising weather and temperature, terminal consumption slows down, the replenishment cycle of downstream is extended, and the attitude is more cautious, and the enthusiasm to enter the market is general. The northern market upstream shipment blocked, inventory gradually increased, successive downward price yield shipment. At present, the transaction atmosphere of southern market is relatively mild, and most of them are stable.

In the international crude oil market, on May 19, the international oil price fell sharply. The settlement price of the main contract in the US WTI crude oil futures market was US $63.35/barrel, down by US $2.15 or 3.3%. The settlement price of the main contract in Brent crude oil futures market was at US $66.66/barrel, down by US $2.05 or 3.0%. Although the US EIA inventory data released last week on Wednesday was positive, the growth of crude oil inventory was not as expected, and gasoline inventory decreased more than expected. However, oil prices fell by more than 3% on concerns that the surge in new cases in Asia will further depress demand for crude oil and that US inflation will increase the probability that the US Federal Reserve will raise interest rates.

Saudi Aramco CP announced in May that all propane and butane were reduced. Propane was 495 US dollars / ton, down 65 US dollars / ton compared with last month; Butane is 475 US dollars / ton, down 55 US dollars / ton from last month.

At present, there are many negative factors in the market. The price of propane in Shandong has dropped to about 4300 yuan / ton. With the price decreasing, the enthusiasm of downstream market entry has not improved significantly. In the later stage, the temperature continues to rise, the terminal demand is still expected to weaken, and the current upstream inventory pressure is increasing, so it is expected that the propane market price will still weaken in the short term.