SunSirs: Consolidation of China LPG Market after Rising in Late October
October 30 2020 11:05:09 SunSirs (Selena)
In late October, although the LPG market was not as bright as the first ten days, the overall trend was also relatively strong. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 3,150.00 RMB/ ton on October 15, and 3,133.33 RMB/ ton on October 28, with a decrease of 0.53% and a maximum amplitude of 2.69%, which was 14.41% higher than that on October 1.
At present, the performance of domestic LPG civil market varies from region to region. East China region has a general shipping situation, and refineries have a small margin of profit to stimulate the shipment operation; South China is dominated by the decline of international crude oil and weak consolidation; petrochemical enterprises in North China are relatively strong, with a small quoted price of 50-100 RMB/ ton; Northeast China is mainly stable, and the market is not favorable due to general demand.
The peak sales season is coming to an end, and the LPG market has performed well in October. Near the end of the month, the weakness of international crude oil has brought some pressure on the market, but at present, most enterprises' inventory is in a controllable state, and there are still some factors in the current peak season, and there is still a certain expectation of improvement in demand. Moreover, the strong growth trend of propane market brings certain benefits to the market, and it is expected that China civil gas may still rise in November.
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