According to the commodity market analysis system of Business Society, the domestic Shandong propane market experienced narrow fluctuations this week. On January 29th, the average price of propane in Shandong’s market was 5370 yuan/ton, and on February 4th, it was 5375 yuan/ton. The weekly increase was 0.09%, a decrease of 16.33% compared to the same period last year.

As of February 4th, the mainstream prices of propane in different regions of China are as follows:

Region/ February 4th

East China region/ 5000-5250 yuan/ton

North China region/ 5100-5250 yuan/ton

Shandong region/ 5200-5250 yuan/ton

Northeast region/ 5000-5150 yuan/ton

This week (1.29-2.4), the Shandong propane market first rose and then stabilized, with an overall slight increase. At the beginning of the week, crude oil and external markets rose one after another, and with positive news, the buying and selling atmosphere on the market improved. Downstream active stocking led to a continued rise in propane prices. Subsequently, oil prices fell, coupled with a weakening of downstream stocking, and the market atmosphere began to weaken, leading to upstream discounts and selling.

Saudi Aramco announced its CP in February 2024, with propane priced at $630 per ton, an increase of $10 per ton compared to the previous month; Butane is $640 per ton, an increase of $10 per ton compared to the previous month.

Overall, as the Spring Festival approaches and logistics capacity weakens, demand will further weaken. It is expected that the propane market will experience a narrow decline in the short term.