The propane market in Shandong continued to decline this week. According to the data monitoring of the Business News Agency, the average market price of propane in Shandong was 5900 yuan/ton on March 10, and 5835 yuan/ton on March 10, with a decline of 1.1% in the week, down 24.1% from the same period last year.

As of March 10, the mainstream prices of propane in different regions in China are as follows:

Region/ March 10th

East China/ 5850-5950 yuan/ton

North China/ 5750-5850 yuan/ton

Shandong region/ 5750-5850 yuan/ton

Northeast China/ 5750-5850 yuan/ton

This week (3.6-3.10), Shandong propane market continued its decline, with the decline in the north greater than that in the south. The overall performance of the domestic propane market this week was weak, and the downstream wait-and-see atmosphere was strong. Most of the mainstream market prices followed the market, and the upstream shipping willingness was obvious. As of this Friday, the mainstream price of Shandong propane market is 5750-5850 yuan/ton.

Saudi Aramco introduced CP in March 2023, and propane was 720 US dollars/ton, down 70 US dollars/ton from the previous month; Butane is 740 US dollars/ton, down 50 US dollars/ton from last month.

In general, the import market is weak, the downstream products are not profitable, and the market is still bearish. It is expected to enter the weak and volatile operation of propane market next week.