Price Trend
The propane market fell slightly this week. At the beginning of the week, the average market price of propane was 4087.5 yuan/ton, and at the end of the week, it was 4045 yuan/ton. Within the week, the price fell by 1.04%, 13.6% compared with the same period last year.
II. Analysis of Influencing Factors
Products: This week, the domestic propane market fell slightly, and the trading atmosphere was general. As of February 15, propane from Dongming Petrochemical Company of Shandong Province and Zhonghai Fine Chemical Company of Shandong Province were not quoted for the time being. The ex-factory price of propane in Tianjin Bohai Chemical Industry Group is 4150 yuan/ton, that in Shandong Haiyou Petrochemical Group is 4130 yuan/ton, that in Shandong Huifeng Petrochemical Company is 4050 yuan/ton, that in Shandong Hengyuan Petrochemical Company is 4050 yuan/ton, and that in Shandong Binzhou Dayou Group is 4050 yuan/ton. The ex-factory price of propane in Sinopec Qingdao Refinery and Chemical Co., Ltd. is 3950 yuan/ton.
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Industry chain: The domestic liquefied gas market rose slightly this week, with an average price of 3916.67 yuan/ton at the beginning of the week and 3690 yuan/ton at the end of the week. Within the week, the price increased by 1.11% and fell by 4.65% compared with the same period last year. The domestic propylene (East China) market fell sharply this week. At the beginning of the week, the average price of liquefied petroleum gas in the domestic market was 7870 yuan/ton, and at the end of the week, the average price was 7460 yuan/ton. Within the week, the price rose by 5.21%, which was 14.76% lower than the same period last year. Saudi CP in January: $430 per ton of propane, down 15% from last month. Butane is $420/ton, up 5% from last month. Due to the import of more resources, coupled with low prices, negative downstream market mentality, the overall atmosphere is general, manufacturers’shipments are blocked, coupled with the approaching Spring Festival, inventory pressure declined.
Industry: According to the price monitoring of business associations, in the 06th week (2.11-2.15) of 2019, there were 21 kinds of commodities rising annually in the chemical sector, of which 3 commodities increased by more than 5% accounted for 4.2% of the monitored commodities in the sector; the first three commodities were ethylene (13.62%), epichlorohydrin (9.65%) and hydrogen peroxide (7.67%). There are 21 kinds of commodities with a decline of more than 5%, accounting for 4.2% of the monitored commodities in this sector. The products with the first three declines are sulphur (-8.67%), propylene (-5.21%) and liquid ammonia (-5.14%). This week’s average rise and fall was 0.12%.
3. Future Market Forecast
Propane analysts of business associations believe that: at present, the effect of low-cost shipment is better, and the factory storehouse is smooth. The market is expected to rise steadily in the future.
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