China Propane Price to Further Decline

In 2018, China’s propane prices fluctuated frequently, and the international crude oil prices exerted great impacts on China’s propane market. Up to December 20, China’s propane prices averaged RMB 4,653/mt, up RMB 446/mt or 10.6% Y-O-Y.

In 2018, China’s propane price trend showed a “W” shape. From mid-January to March, China’s propane prices declined at first and then trended flat. From April to September, China’s propane prices kept rising and were obviously higher than those in 2017. From October to December, China’s propane prices continued to decline. In December, supported by the limited bullish factors, China’s propane prices increased at first and then declined.

Currently, the international crude oil prices continue to crash, weighing on the market sentiment. Moreover, most downstream users have completed the replenishment, and the prices of imported propane are low. Therefore, SCI reckons that China’s propane prices will further decline.

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