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SunSirs: International Price Falls, China LPG Falls sharply
June 12 2020 10:01:20SunSirs(Selena)

Market situation: PG2011 contract opened at 3,549 RMB/ ton, the highest at 3,558 RMB/ ton, the lowest at 3,376 RMB/ ton, and closed at 3,406 RMB/ ton, down 150 RMB/ ton, or 4.22% compared with the previous trading day; volume was 365,207, positions were 76,596, an increase of 5,596.

Industry chain information: 1. On June 10, July CP expected that propane would be $320/ ton, down $10/ ton compared with the previous trading day; butane would be $305/ ton, down $10/ ton compared with the previous trading day. 2. Guangzhou Lianyou LPG price was reported as 2,650 RMB/ ton, down 100 RMB/ ton from the previous day.

Market quotation: the quotation of LPG (domestic) in Guangzhou market is 2,650-2,700 RMB/ ton, which is the same as the previous day; the quotation of LPG (imported) in Guangzhou market is 2,750-2,800 RMB/ ton, which is 100 RMB/ ton lower than the previous day.

Summary: EIA crude oil inventory in the United States unexpectedly increased last week. The Federal Reserve is expected to maintain the current interest rate level until the end of 2022, and the international crude oil price fluctuated; the Asian LPG market continued to fall; the East China LPG market fluctuated, and the civil gas in Shanghai and Zhejiang slightly increased, while the Fujian construction area and the import gas slightly decreased, with average transaction performance; the prices in the South China market fell, and the prices of the main refineries remained stable, the prices of the wharfs decreased, the terminal's high inventory operation and receiving capacity were limited, and the atmosphere of delivery and investment was weakened; the port's import profits were reversed, and the international market prices continued to fall, which affected the market atmosphere, while the import cargo increased, the downstream off-season demand expectation limited the upper space, and the spot market was in shock.

 

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