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SunSirs: Energy, Shandong LPG Market Rose 8.08% in a Week after May Day Holiday (May 5-9)

May 12 2020 10:42:57     SunSirs (Selena)

Last week, the civil gas market in Shandong Province showed a broad upward trend. At the beginning of the week, the average price of LPG (Shandong) market was 2,806.67 RMB/ ton, while at the end of the week, the average price was 3,033.33 RMB/ ton, up 8.08% in the week, and the price was 32.69% lower than the same period last year.

Analysis of Influencing Factors

Market: between the end of April and May, CP rose sharply, which was good for the market. After the May Day holiday, crude oil showed an upward trend, and there is a demand for replenishment in the downstream after the festival. The market entry is more active. The manufacturer's shipment is smooth, the inventory is free of pressure, and the price is wide upward. At present, Shandong refinery is in high load operation, and the market supply has increased compared with the previous period. The terminal market recovered in an all-round way, with general demand and stable weekend prices.

Industry: according to the price monitoring of SunSirs, in the 18th week of 2020 (5.4-5.8), there were 9 kinds of commodities in the list of commodity prices rising and falling, including 4 kinds of commodities with an increase of more than 5%, accounting for 25% of the number of commodities monitored in the sector; the top three commodities were WTI crude oil (21.78%), Brent crude oil (8.31%) and LPG (8.08%). There were 5 kinds of commodities falling on a month on month basis, with gasoline (-3.33%), diesel (-1.52%) and naphtha (-1.47%) as the top three products. Last week's average was up or down 3.03%.

Market Forecast

At present, the demand of the terminal market is basically stable. Last week, driven by the rise of international crude oil, the demand rose sharply. However, at present, crude oil is in a weak decline, and the trading atmosphere in the market has been weakened. With the temperature rising gradually after May, downstream demand is expected to decrease, and it is expected that it may fall in the short term.

 

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