China’s domestic propane market price fell broadly

1、 Price trend

According to the price monitoring of the business agency, the domestic propane market is in a broad downward trend. As of January 14, the average price of the domestic propane market is 4867.5 yuan / ton. Prices rose 16.03% month on month and 15% year on year.

2、 Influencing factors

Products: on the 14th, the propane (Shandong) market fell broadly, and the trading atmosphere was light. The price of propane (Shandong) was reduced by 100-200 yuan / ton in Shandong area. Currently, the ex factory price is 4800-5000 yuan / ton, most of which are below 5000 yuan / ton. In the morning, international crude oil continued to decline and close, with a bearish market mentality and a cautious downstream mentality, mainly on the sidelines. In the early stage, propane rose to a high level, and the downstream acceptance capacity was limited. In addition, the current international market news was bad, most refineries lowered their prices, giving priority to profit shipment. Currently, CP is expected to decline in February.

3、 Future forecast

At present, propane market is mainly weak, and the market transaction atmosphere is light. The downstream market entry enthusiasm is general, mainly wait-and-see. The refinery inventory is relatively high. The price is lowered, and the profit is mainly delivered. It is expected that there is still room for reduction in the short term.