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SunSirs: The Peak Season is Coming, China LPG Market Rises strongly
September 14 2021 14:48:06SunSirs(Selena)

With the arrival of the traditional sales peak season, the LPG market has lived up to expectations and ushered in a sharp rise. At present, the ex-factory quotation of civil gas in Shandong has risen to more than 5,000 RMB/ ton. According to the data monitoring of business agency, the average price of LPG in Shandong civil market was 4,743.33 RMB/ ton on September 5 and 5,060.00 RMB/ ton on September 13. The increase rate in one week was 6.68%, an increase of 66.27% compared with the same period last year.

Entering the peak sales season, the domestic LPG market ushered in an overall upward trend. In the past week, the trend of Shandong civil gas market showed a continuous upward trend, the overall increase was obvious, and the price continued to push up. Shandong civil gas market has exceeded the 5,000 RMB/ ton mark. There are many positive factors in the current market. First, the rise of international crude oil has brought some positive support to the market. Second, some maintenance enterprises have not recovered, and the supply in the area is relatively tight. Finally, on the demand side, the off-season of traditional demand has passed, ushering in the peak sales season, the weather temperature has gradually decreased, the terminal demand has steadily increased, the operator's mentality is good, the downstream buying mentality is more active, the overall transaction atmosphere of the market is good, the manufacturer's mentality is strong, and the price continues to rise.

Last week, the LPG futures market fluctuated higher, which brought positive support to the spot market. On September 13, the opening price of LPG futures contract 2110 was 5,320, the highest price was 5,483, the lowest price was 5,303, the closing price was 5,402, the former settlement price was 5,401, the settlement price was 5,402, up 1, or 0.02%, the trading volume was 63,243, the position was 25,233, and the daily position was increased by -1,458. (quotation unit: RMB/ ton)

At present, there are many favorable supports in the market. The traditional peak sales season has come, and the supply has not fully recovered. There is a good expectation of terminal demand. The overall market entry enthusiasm of the downstream is good, and the manufacturers have a comfortable shipment and strong mentality. With the arrival of the Mid Autumn Festival holiday, it is expected that China LPG market in Shandong will still rise in the short term. More attention should be paid to the trend of crude oil.

 

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