In the middle of November, the propane market did not continue. The overall trend began to decline on the 11th and rebounded on the 23rd. According to the data monitoring of business agency, the average price of propane market was 3937.50 yuan / ton on November 11, 3800.00 yuan / ton on November 23, with a decrease of 3.49% during the period. The average price of propane on November 25 was 3845.00 yuan / ton, up 1.18% compared with that on November 23.

According to the data comparison of business agency, propane market price this year (2020) is at a low level compared with previous years. Due to the coming of winter and the cold weather, November should be the peak demand season for propane Market. However, in November this year, the trend of Shandong propane market is mainly volatile, and there is no obvious upward trend. Although CP rose sharply in November, it brought Limited benefits to the market. Starting from the 11th, it is out of the line of continuous decline. In terms of market supply, Shandong’s market supply has increased, but in terms of demand, due to the weather cooling is not obvious, the market demand is still weak, the terminal consumption is slow, and the downstream replenishment is mainly phased. The market is in oversupply.

Entering this week (11.23-25), the international crude oil continued to rise, the news brought a significant boost to the market, together with the rising cost of gas intake, which obviously supported the market. Shandong propane market finally stopped falling and ushered in a rebound situation. At present, the overall domestic propane market is mainly up, but there is still a difference between the South and North markets. Due to the end of the downstream periodic replenishment, the northern market rose slightly. The southern market was mainly pushed up. As of November 25, the mainstream prices of propane in different regions in China are as follows:

Regional specification November 25

Propane in East China,% (V / V) not less than: 953600-3700 yuan / ton

Propane in North China,% (V / V) not less than: 953770-3900 yuan / ton

Propane in Shandong area,% (V / V) not less than: 95 3780-3900 yuan / ton

Propane in South China,% (V / V) not less than: 953500-3600 yuan / ton

Propane in Central China,% (V / V) not less than: 953800-3850 yuan / ton

In terms of international crude oil, the international oil price continued to rise in November. At present, it has maintained an upward trend for four consecutive weeks. According to the monitoring of business agency, as of November 24, the growth rate of American oil was 24.16%, and that of Brent crude oil was 24.88%. At present, the oil price has reached the highest point in recent eight months. On the one hand, the good news of the new crown vaccine has boosted the demand expectation; on the other hand, according to the news released from the market, OPEC + is expected to further maintain the current super scale production reduction, which is good for the supply expectation.

At present, the crude oil market is obviously up in favor of the international market. The enthusiasm of downstream market entry has improved, and the southern market is more positive. However, the situation that the market supply exceeds demand has not changed significantly. The weak demand still has a constraint on the rise. In the short term, propane Market or small rise.