First, the price trend
The propane market price has been continuously lowered this week. At the beginning of the week, the average price of propane market was 5,629.89 yuan / ton, the average price of weekends was 5,494.44 yuan / ton, the weekly decline was 2.34%, and the price was 12.63% higher than the same period of last year.
Second, the analysis of influencing factors
Product: The domestic propane market price continued to decrease this week. The overall trading atmosphere was weak. As of October 19, Shandong Dongming Petrochemical propane is not quoted, Shandong Zhonghai Fine Chemical Co., Ltd. propane is not quoted. The ex-factory price of propane in the supply and marketing company of Tianjin Bohai Chemical Group is 5,850 yuan/ton, the ex-factory price of propane in Shandong Haiyou Petrochemical Group is 5,550 yuan/ton, and the ex-factory price of propane in Shandong Huifeng Petrochemical is 5,600 yuan/ton. Propane of Shandong Hengyuan Petrochemical Co., Ltd. The ex-factory price is 5,550 yuan / ton, Shandong Binzhou Dayou Group propane ex-factory price is 5,550 yuan / ton. The ex-factory price of propane of Sinopec Qingdao Refining & Chemical Co., Ltd. is 5,500 yuan / ton.
Industry chain: The price of domestic LPG market was weaker this week. At the beginning of the week, the average price of domestic LPG market was 5,000 yuan/ton, and the average weekend price was 4,860.62 yuan/ton. The weekly decline was 2.69%, and the price increased by 9.85% compared with the same period of last year. This week, the domestic propylene market first stabilized and fell. At the beginning of the week, the average domestic propylene market price was 10,192 yuan/ton, and the average weekend price was 9,873 yuan/ton. The weekly decline was 3.13%, and the price rose 21.66% over the same period of last year. October Saudi CP: Propane $ 655 / ton rose 55 from last month; butane 655 / ton rose 20 from last month. The spot is equivalent to the cost of propane 5219, butane 5217.
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This week, the domestic propane market was exhausted and continued to decline. The liquefied gas market has fallen sharply, driving the propane market to follow suit. The increase in the amount of imported resources has led to ample domestic supply, and the downstream is dominated by a wait-and-see attitude. International crude oil and international current position both fell, the enthusiasm for downstream purchases was not high, and the market mentality continued to be sluggish. With the decline in prices, the low-cost volume has slightly improved, and the downstream just needs to replenish. However, the overall atmosphere of the market is still not ideal, and manufacturers’ inventory and sales pressures are still there.
Industry: According to the price monitoring of business companies, in the 42nd week of 2018 (10.15-10.19), the commodity prices rose by 25 in the chemical sector, and the top 3 commodities were acrylic acid (4.61%) and sulfuric acid ( 3.83%), phthalic anhydride (East China) (3.49%). There were 24 kinds of commodities with a decrease in the chain, and 3 products with a drop of more than 5%, accounting for 4.2% of the monitored products in the sector; the top 3 products were acetone (-6.63%) and polysilicon (-5.56%). , styrene (-5.35%). This week’s average price increase was -0.18%.
Third, the market outlook
Propane analysts of the business community believe that: the current refinery shipments of poor stocks rose to a high level, coupled with the weak operation of international crude oil, bad market mentality. As the end of the month approached, CP’s expected downward revision in November also had some constraints on the market. However, the cost of imports is still high, and there is not much room for manufacturers to fall. It is expected that the market will stop falling and stabilize.
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