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SunSirs: ChinaLPG Market Rses again and Rushes to the Mark of 6,000 yuan/ ton
October 14 2021 10:04:47Selena(SunSirs)

Since the beginning of October, China domestic LPG market has continued to rise in price and the focus has shifted upward. At present, the average price of civil gas in Shandong is above 5,700 RMB/ ton, breaking the highest point in the year, reaching 6,000 RMB/ ton. According to the data monitoring of SunSirs the average price of LPG in Shandong civil market was 5,273.33 RMB/ ton on September 30 and 5,710.00 RMB/ ton on October 11, with an increase of 8.28% and 63.61% compared with January 1, 2021.

Since this year, the overall trend of domestic LPG has been strong, and the price is at a relatively high level. In October, the price of LPG civil market continues to rise, and the overall focus has shifted upward. At present, the civil ex-factory quotation of LPG in Shandong is mostly above 5,700 RMB/ ton, breaking the highest point in the year and sprinting through the 6,000 yuan barrier.

During the Naional Day holidays, the price continued to rise, the rising trend remained unchanged after the festival, and the focus still shifted upward. At present, the market is dominated by positive factors. With the introduction of the sharp rise in CP price in October, it has significantly boosted the domestic market. In addition, the international crude oil price is strong and upward, and the news is good for the market mentality. During the holiday, the civil price of LPG rose sharply. However, negative factors still exist. As the current price rises to a high level, the resistance in the downstream after the festival increases, the enthusiasm for entering the market is general, and the market shipment turns light. Shandong civil gas market slightly lowered the price on October 9, focusing on shipments. However, due to the continuous rise in the prices of related products, the price of LPG for civil use rose again on October 11. At present, the mainstream quotation of Shandong civil gas is 5,600-5,830 RMB/ ton, and the upstream inventory is mostly controllable.

After the Naional Day holidays, the trend of LPG futures market was strong, which brought some support to the spot market. On October 11, the opening price of LPG futures contract 2111 was 6,482, the highest price was 6,803, the lowest price was 6,430, the closing price was 6,755, the former settlement price was 6,480, the settlement price was 6,635, up 275, or 4.24%, the trading volume was 162,007, the position was 54,005, and the daily position was increased by -255. (quotation unit: RMB/ ton)

At present, the overall transaction atmosphere of the domestic LPG market is mild, the South and North markets are mainly increased, and the weather continues to cool down, and the terminal demand is still expected to improve in the later stage. In addition, the high international crude oil price also brings obvious benefits to the market. However, due to the high LPG price, it is expected that the rise trend of the LPG market in China will remain unchanged and the increase may narrow in the later stage.

 

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