SunSirs: Sales Were Sluggish, Propane Continued to Decline

https://www.chemnet.com   Jan 15,2024 SunSirs

　　Price trend

　　On January 12th, the propane market in Shandong continued to decline, with mainstream market prices ranging from 5,250 to 5,350 RMB/ton.

　　Analysis review

　　In recent times, international oil prices had continued to decline, and the negative news had intensified. At the same time, downstream buyers had a strong mentality of buying up rather than falling, which led to a bearish outlook on the future market. This had led to an increase in inventory on the market, an increase in upstream supply pressure, and a lack of smooth supply of high priced goods.

　　Market outlook

　　Over the weekend, oil prices stopped falling and rebounded, boosting the mentality of businesses. It is expected that propane will stabilize at a low level in the short term and continue to decline from a high level.

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