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China Propane Prices to Hover at Highs

SCI99

2020-12-25

China Propane Prices to Hover at Highs

Entering December, China’s propane supply volume rose greatly. With the temperature declining, the demand for propane also improved dramatically. Accordingly, China’s propane prices went up gradually.

According to SCI’s statistics, China’s propane prices increased greatly from October. On the one hand, supported by the favorable demand in winter, most market participants adopted bullish attitudes to the propane market. On the other hand, the increment in import cost gave support to China’s propane prices. However, with the rising demand, China’s propane supply volume also went up.

As seen from the chart above, China’s propane daily output was about 7,000mt in December, up 25.89% from the low level in October. On the one hand, some enterprises in Shandong raised the propane sales volume, and the propane supply went up, as the new project at Dongying Yatong Petrochemical was put into use. On the other hand, some units were restarted, lifting the overall propane supply volume.

Meanwhile, China’s propane demand also gradually improved. With the temperature declining in winter, downstream users replenished stocks frequently. Accordingly, China’s propane consumption volume went up.

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