This week, the domestic propylene market stabilized first and then rose, while Shandong propane market rose slightly at the weekend. According to the data monitoring of the business community, the average price of Shandong propane market was 5675 yuan/ton on October 31, and 570 yuan/ton on November 4. The weekly increase was 0.96%, down 10.41% compared with the same period last year.

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

Region., November 4

In South China, 5550-5700 yuan/ton

North China, 5500-5750 yuan/ton

Shandong, 5650-5780 yuan/ton

Northeast China, 5700-5800 yuan/ton

This week (10.31-11.4), the domestic propane market was weak as a whole, and Shandong propane market rose slightly. In November, the CP price rose, boosting the confidence of the industry. On the market trading was active, with more inquiries, and the trading atmosphere improved. However, due to the escalation of domestic security incidents in some regions, the transportation is limited and the goods are not transported smoothly. In terms of cost, crude oil rose slightly in shock, and liquefied gas declined in general weakness, with average cost support.

Saudi Aramco introduced CP in November 2022, and propane was 610 dollars/ton, up 20 dollars/ton from last month; Butane is 610 dollars/ton, up 50 dollars/ton from last month.

Overall, the strong performance of the international market further boosted the domestic market, and the demand side is expected to improve. It is expected that the propane market may rise in the short term.