According to the commodity market analysis system of Shengyishe, the domestic Shandong propane market has been fluctuating this week. On March 4th, the average market price of propane in Shandong was 5275 yuan/ton, and on March 8th, the average price was 5275 yuan/ton. There was no increase or decrease during the cycle, and it decreased by 9.32% compared to the same period last year.

As of March 8th, the mainstream prices of propane in different regions of China are as follows:

Region/ March 8th

East China region/ 5050-5150 yuan/ton

North China region/ 5100-5150 yuan/ton

Shandong region/ 5050-5300 yuan/ton

Northeast region/ 4850-5000 yuan/ton

This week (3.4-3.8), the Shandong propane market rose first and then fell, with prices remaining unchanged from the beginning of the week. At the beginning of the week, due to the rise in prices due to reasons, coupled with controllable on-site inventory, propane prices rose accordingly. After the rise, the enthusiasm for downstream entry into the market weakened, coupled with the warming weather and weakened demand for combustion, leading to a downward pressure on propane prices.

Saudi Aramco announced its CP in March, with propane at $630 per ton; Butane costs 640 US dollars per ton, while the contract price for propane and butane remains unchanged month on month. The landed cost in RMB is around 5160 yuan per ton for propane and 5279 yuan per ton for butane.

Overall, there is an expectation of a decrease in combustion and chemical demand in the future, and the upstream price support mentality will weaken. It is expected that the propane market will experience a narrow decline in the short term.