SunSirs: September Sales Peak Season Failed, China LPG Market Fell continuously
October 10 2020 11:01:17 SunSirs (Selena)
September should have been the traditional peak season for LPG sales. However, this September's price did not rise as those in previous years. Instead, it was dominated by successive weak declines, which made the industry more disappointed. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 3,200.00 RMB/ ton on September 1, and 2,776.67 RMB/ ton on September 30, with a decrease of 13.32% and 26.15% over the same period.
LPG futures shock down mainly, with limited support for the market. On September 30, 2020, the opening price of LPG futures was 3,426, the highest price was 3,435, the lowest price was 3,347, the closing price was 3,415, the previous settlement price was 3,441, and the settlement price was 3,395, with a decrease of 26, a decrease of 0.75, a turnover of 123,212, a position of 40,143, and a daily increase of -5,639. (unit: RMB/ ton)
In terms of supply, the supply of civil gas market was relatively stable in September, and the overall market supply increased compared with August. The overall situation of shipment in September was relatively smooth, but the downstream demand was mainly consumed by rigid demand, and the improvement in demand was not obvious, and the inventory of manufacturers dropped to a low level at the end of the month. With the arrival of October, the weather and temperature are dropping rapidly, and the terminal demand is still expected to improve. The industry also has some confidence in the future market. In addition, the introduction of a small rise in CP price in October has brought a certain boost to the market. It is expected that LPG price in October will show a trend of consolidation and then rise.
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