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SunSirs: China LPG Rose sharply in the First Ten Days of October
October 19 2020 08:23:17SunSirs(Selena)

In October, China LPG market finally welcomed the recovery of the market, showing a continuous upward trend after the double festival. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 2,776.67 RMB/ ton on October 8, and 3,126.67 RMB/ ton on October 14, up 12.61% after the festival, down 2.29% from September 1.

In September this year, the civil market of LPG did not rise but fell. In October, the LPG civil market finally ushered in a sharp rebound. After the double festival holiday, the rise in South China is the most prominent. According to the data monitoring of SunSirs, taking Guangzhou Petrochemical Company as an example, the civil price of LPG of Guangzhou Petrochemical Company was 2,748 RMB/ ton on September 30, and 3,348 RMB/ ton on October 14, with an increase of 600 RMB/ ton. The overall center of gravity of civil gas market in other regions has moved up, and it has risen to more than 3,000 RMB/ ton at present.

In October, international crude oil rose more than fell, bringing strong support to the market. After the festival, the downstream inventory and replenishment demand was more positive, the manufacturers shipped smoothly, and the inventory was mostly at a low level. In terms of market supply, the import gas at the port decreased significantly compared with that in September. In terms of market demand, the weather temperature continued to drop in October, especially in the northern market, where the terminal demand increased, resulting in a phased imbalance between supply and demand.

On October 14, the opening price of the main contract 2011of LPG futures was 3,699, the highest price was 3,761, the lowest price was 3,668, the closing price was 3,737, the previous settlement price was 3,687, and the settlement price was 3,723, with an increase of 50, or 1.35%. The trading volume was 116,423, the position was 33,984, and the daily increase was -2,200. (unit: RMB/ ton)

At present, the trend of China domestic LPG civil market varies from region to region, but the trend is relatively strong. At present, the downstream market entry is more positive, the manufacturers' shipment situation is good, and the inventory is mostly at a low level. In October, with the weather cooling down, the terminal demand is still expected to improve, and the current international crude oil price rises more than falls, bringing some support to the LPG market. However, due to the rapid rise this time and the limited downstream acceptance capacity, it is expected that the rising route of China LPG will remain unchanged and the increase may be narrowed.

 

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