In the first ten days of September, the propane Market showed a continuous downward trend, but it finally ushered in a price rise on the 14th. Although the price rise “comes and goes in a hurry”, the market atmosphere has improved. According to the data monitoring of the business agency, the average price of propane market was 3350.00 yuan / ton on September 13 and 3350.00 yuan / ton on September 16, with an earthquake amplitude of 0.73% and a decrease of 3.11% compared with August 1.
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In the twinkling of an eye, half of September has passed. Looking back at the first ten days of September, although it entered the “golden nine”, the market was not as good as that in August in the traditional off-season. According to the data monitoring of the business agency, on September 9, the propane Market had fallen back to the price before August 1. Propane, which accounts for about 60% of the fuel, opened a downward channel in September, and the gas-liquid gas civil market was also in a weak downward trend during the same period. Although the market decline was not large, the range was only within 100 yuan, compared with previous years, the industry was more disappointed with this market.
The main reason for the decline in propane market is the drag of international crude oil. Due to the impact of the low demand caused by the epidemic situation, the international crude oil fell sharply, the international spot price was under pressure, which seriously depressed the domestic market mentality. The civil gas market followed the trend and propane fell significantly. In addition, the market is still in a weak state due to the slow promotion of terminal demand. The downstream mentality is cautious, and most of them need to make up for it, so the enthusiasm for entering the market is not high. Manufacturers to ship blocked, inventory gradually accumulated, profit margin based shipment. In the first ten days of September, negative factors dominated, so the price did not rise but fell.
According to the data of the business agency, the market rose on September 14. Although the rise was short and fell back to the price before the price rise in one day, the market mentality improved significantly. On September 9, boosted by the rise in the US stock market after three consecutive trading days of heavy losses, the international crude oil rebounded and boosted the market mentality. Manufacturers took the opportunity to slightly increase the ex factory price to release the rising signal. On the 10th, international crude oil fell again, and propane upstream was forced to follow the fall due to inventory pressure. On September 15 and 16, the international crude oil rebounded strongly, which was good for the market again, and the cost of intake gas rose, which boosted the market. On the 15th, propane stopped falling and stabilized, the market transaction atmosphere improved, the downstream periodic replenishment, the upstream inventory was controllable, and the prices in some regions increased.
As of September 16, the mainstream prices of propane in different regions in China are as follows:
Regional specification September 16
Propane in East China,% (V / V) not less than: 952850-3300 yuan / ton
Propane in North China,% (V / V) not less than: 953300-3460 yuan / ton
Propane in Shandong area,% (V / V) not less than: 953100-3300 yuan / ton
Propane in South China,% (V / V) not less than: 95 2870-2980 yuan / ton
Propane in Central China,% (V / V) not less than: 953050-3460 yuan / ton
Propane in Northeast China,% (V / V) not less than: 953300-3800 yuan / ton
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At present, there are some differences between the north and the south of the domestic propane Market. Due to the obvious drop of weather and temperature in the northern region, the trading atmosphere is fair, and the prices in Northeast China have been raised. South China mainly fell in a narrow range.
In terms of the international market, Saudi Aramco announced CP in September 2020, with propane at $365 / T, stable compared with the previous month; butane at $355 / T, up $10 / T from last month.
International crude oil: on September 16, the U.S. WTI crude oil futures market prices soared, with the settlement price of the main contracts at $40.16/barrel, up $1.88 or 4.90%. Brent crude oil futures market prices rose sharply, the main contract settlement price to 42.22 US dollars / barrel, up 1.69 US dollars or 4.16%. The sharp rise in oil prices was mainly due to the sharp decline in US crude oil and gasoline stocks, and the superposition of Hurricane “Sally” forced a large number of us oil production to be blocked.
The strong rebound of international crude oil for two consecutive days has brought obvious support to the market. The downstream mentality is good, and the enthusiasm to enter the market has been improved. Although the current inventory of manufacturers has accumulated, it is still in a controllable state. In addition, the sharp rise in the cost of gas intake has also brought a significant boost to the market. In the long run, with the decrease of weather temperature, terminal demand is still expected to increase. It is expected that the market will adjust narrowly in the short term, and the long-term may still rise.
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