The domestic propane market saw a significant increase in August. According to data monitoring by Business Society, the average market price of propane in Shandong Province was 4718 yuan/ton on August 1st, and 5343 yuan/ton on August 30th. The monthly increase was 13.25%, a decrease of 10.2% compared to the same period last year.
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As of August 30th, the mainstream prices of propane in different regions in China are as follows:
Region/ August 30th
East China region/ 5400-5550 yuan/ton
North China region/ 5350-5500 yuan/ton
Shandong region/ 5300-5400 yuan/ton
Northeast region/ 5300-5400 yuan/ton
In the first half of August, the domestic propane market showed a significant increase, while in the second half, the increase was slightly reversed. At the beginning of the month, the CP price increase was introduced in August, boosting market confidence. In addition, with low inventory in the region, refineries actively pushed up prices, and prices continued to rise until mid month. As of August 15th, the average domestic propane price had risen to 5550 yuan/ton, an increase of 17.64% compared to the beginning of the month. Subsequently, the market entered a stage of correction and consolidation, and downstream consumers began to resist high priced sources of goods, especially the tightening of PD device profits, which affected the start of production. To stimulate sales, the focus of propane trading fluctuated and shifted downwards.
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Saudi Aramco’s CP was introduced in August 2023, with propane at $470 per ton, an increase of $70 per ton compared to the previous month; Butane is $460 per ton, an increase of $85 per ton compared to the previous month.
Overall, the current propane market prices remain high, and downstream replenishment enthusiasm is not high, leading to an increase in inventory. It is expected that the propane market will continue to decline slightly in the short term.
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