This week, domestic Shandong propane rose first and then fell. According to the Commodity Market Analysis System of the Business Society, the average price of propane in Shandong on November 6th was 5648 yuan/ton, and on November 10th it was 5663 yuan/ton. The weekly increase was 0.27%, a decrease of 1.16% compared to the same period last year.

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

Region/ November 10th

East China region/ 5350-5700 yuan/ton

North China region/ 5650-5750 yuan/ton

Shandong region/ 5550-5650 yuan/ton

Northeast region/ 5550-5700 yuan/ton

This week (11.6-11.10), the Shandong propane market rose first and then fell. At the beginning of the week, the inventory in the Shandong propane market was low and goods were moving smoothly. With a sudden drop in temperature, downstream markets actively entered the market, while upstream prices rose. In the second half of the week, the price of propane rose to a high level, and downstream resistance was evident. The increase was recouped, and the price dropped to the level at the beginning of the week.

Saudi Aramco’s CP was introduced in November 2023, with propane at $610 per ton, an increase of $10 per ton compared to the previous month; Butane is $620 per ton, an increase of $5 per ton compared to the previous month.

Overall, the current price of propane is returning to rationality, downstream demand is stable, and upstream inventory is controllable. It is expected that the price of propane will narrow in the short term.