In March, Shandong propane market ushered in a rising market. According to the data monitoring of business news agency, the average market price of propane was 3932.50 yuan / ton on March 4 and 4250.75 yuan / ton on March 8, with an increase of 8.09% during the period, and 5.39% on March 8, with an increase of 6.80% compared with March 1.

As of March 8, the mainstream propane prices in different regions in China are as follows:

Mar. 8, 2007

Propane in East China,% (V / V) not less than: 95 4250-4300 yuan / ton

In North China,% (V / V) is not less than 95.4000-4120 yuan / ton

In Shandong Province,% (V / V) propane is not less than 95.4000-4250 yuan / ton

In South China,% (V / V) is not less than: 95 4520-4850 yuan / ton

Propane in Central China,% (V / V) not less than: 95 4400-4650 yuan / ton

After the festival, propane market rose first and then fell, and the overall market trend was weak. Entering March, Shandong propane market ushered in a recovery. On the 4th, it began to rise. On the 8th, the price rose significantly. Shandong propane market rose by 5.58% on a single day, with an increase range of 100-240 yuan / ton. The rally was mainly driven by international crude oil. The results of the OPEC + meeting finally came to fruition, and the organization agreed to extend the oil production reduction to April. Saudi Arabia, OPEC leader, said it would extend the plan of voluntarily reducing production by 1 million barrels per day and decide when to phase out the reduction in the next few months. In addition, Russia and Kazakhstan were allowed to increase production by 130000 B / D and 20000 B / D respectively. The results of the meeting exceeded market expectations and pushed the oil price up to the highest level in more than a year. Propane Market in this favorable situation, the price has been rising. The enthusiasm of the downstream market has improved compared with the previous period, but the current market demand is still weak, and the overall trading atmosphere of the market is general. The trend of domestic propane market is also different between the north and the south. The north market is rising obviously, especially in Shandong market. The south market is mostly stable, but due to the lack of demand, individual market declines.

In terms of international market, Saudi Aramco announced in March that there was an increase in propane and butane. Propane was $625 / T, up $20 / T from last month; butane was $595 / T, up $10 / T from last month.

In March, CP was introduced. Although the price of propylene butane rose, the rising rate did not meet the expectation, which brought Limited benefits to the market. The rising market is mainly driven by the sharp rise of international crude oil, and the market demand is still weak. Although the enthusiasm of downstream market entry has improved, the market rise is still limited. Propane market is expected to rise steadily in the short term.