In March, the domestic propane market continued its downward trend and stabilized at the end of the month. According to data monitoring by the Business News Agency, the average market price of propane in Shandong was 6107 yuan/ton on March 1, and 5173 yuan/ton on March 27. The monthly decline was 15.3%, down 25.71% compared to the same period last year.
Thiourea |
As of March 27, the mainstream prices of propane in various regions in China are as follows:
Region/ March 27th
South China region/ 5350-5450 yuan/ton
North China/ 5100-5250 yuan/ton
Shandong region/ 5100-5250 yuan/ton
Northeast China/ 5050-5150 yuan/ton
In March, the decline in the domestic propane market increased, and the market had a strong bearish mentality. At the beginning of the month, the market continued its weak trend at the end of February. Downstream procurement enthusiasm is not high, market prices follow the market, and upstream destocking is the main trend. As the price of crude oil fell to a low level in the future, international external market prices continued to decline, and downstream demand continued to decline. As a result, upstream shipments were not smooth, and prices were significantly lowered several times. In late March, as propane prices fell to a low level and downstream bargains entered the market, trading volume increased, with some markets experiencing a slight increase and market atmosphere rebounded.
Saudi Aramco introduced CP in March 2023, with propane at $720 per ton, a decrease of $70 per ton compared to the previous month; Butane is $740/ton, down $50/ton from last month.
Overall, the current propane market price is still higher than the external market price, so the momentum for propane to continue to rebound is limited. It is expected that in the short term in April, the propane market will mainly consolidate and operate.
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