Liquefied Propane Price in China - 2023

Contents:

1. Liquefied Propane Price in China (CIF) - 2023
2. Liquefied Propane Price in China (FOB) - 2023
3. Liquefied Propane Imports in China
4. Liquefied Propane Exports in China

Liquefied Propane Price in China (CIF) - 2023

The average liquefied propane import price stood at $619 per ton in September 2023, increasing by 13% against the previous month. In general, the import price, however, recorded a mild reduction. The import price peaked at $745 per ton in March 2023; however, from April 2023 to September 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the highest price was recorded for prices from Kuwait ($644 per ton) and the United States ($641 per ton), while the price for Saudi Arabia ($585 per ton) and Oman ($587 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Nigeria (-0.6%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Price in China (FOB) - 2023

The average liquefied propane export price stood at $606 per ton in September 2023, increasing by 15% against the previous month. Overall, the export price, however, recorded a slight decline. The pace of growth was the most pronounced in February 2023 when the average export price increased by 19% m-o-m. As a result, the export price attained the peak level of $789 per ton. From March 2023 to September 2023, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Singapore ($903 per ton), while the average price for exports to Vietnam ($561 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+0.5%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Imports in China

For the fourth consecutive year, China recorded growth in overseas purchases of liquefied propanes, which increased by 8.6% to 21M tons in 2022. The total import volume increased at an average annual rate of +11.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 27%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, liquefied propane imports skyrocketed to $16B in 2022. In general, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 93%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Liquefied Propane to China in 2022:

1. South Korea (undefinedM tons)
2. United States (8.5M tons)
3. United Arab Emirates (4.0M tons)
4. Qatar (2.8M tons)
5. Oman (2.4M tons)
6. Saudi Arabia (0.7M tons)
7. Kuwait (0.7M tons)
8. Angola (0.5M tons)
9. Australia (0.3M tons)
10. Nigeria (0.3M tons)
11. Malaysia (0.1M tons)

Liquefied Propane Exports in China

In 2022, approx. 341K tons of liquefied propanes were exported from China; with a decrease of -14.8% compared with 2021 figures. In general, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 1.9% against the previous year.

In value terms, liquefied propane exports expanded to $276M in 2022. Overall, exports showed a mild downturn. The pace of growth was the most pronounced in 2021 when exports increased by 48%.

Top Export Markets for Liquefied Propane from China in 2022:

1. Vietnam (171.8K tons)
2. Philippines (82.3K tons)
3. Myanmar (4.1K tons)

Source: IndexBox Market Intelligence Platform