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SunSirs: China LPG Rose nearly 10% after the Spring Festival

February 19 2021 10:04:10     SunSirs (Selena)

At the end of the Spring Festival holiday, the overall price of Shandong's civil gas market has been pushed up, and it is happy to rebound. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 3,550.00 yuan / ton on February 9 before the festival and 3,900.00 yuan / ton on February 18 after the festival. The rebound rate after the festival was 9.86%, up 6.07% compared with February 1.

In February, the overall trend of LPG market was weak, and all regions in China were in a downward trend, but there were some differences in the decline range. Shandong civil gas market prices fell significantly before the festival. On February 3, it began a continuous downward trend. Before the festival, due to the decline in transportation, the downstream replenishment has ended, and they have withdrawn from the market to wait and see. The market demand is limited, and the transaction atmosphere is significantly lower than that in the early stage. However, the manufacturers' demand for stock arrangement before the festival has not been fully completed, and the prices are continuously lowered for shipment. Most manufacturers adjust according to their own situation, and the overall market is weak.

After the Spring Festival, the LPG civil market as a whole rose to varying degrees, and the market rebounded. Shandong market actively pushed up on February 18, with an increase of 300-400 yuan / ton compared with that before the festival. At present, the mainstream price of civil gas in Shandong market is about 3,950-4,050 yuan / ton. After the festival, international crude oil continued to rise, the news is good for the civil gas market. And after the festival, the demand for storage and replenishment in the downstream is positive. The overall delivery situation of manufacturers is good, inventory is mostly at a controllable level, and most regions are actively pushing up.

However, the LPG futures market fell slightly, with limited positive effect on the spot market. On February 18, the opening price of LPG futures contract 2103 was 3,350, the highest price was 3,377, the lowest price was 3,289, the closing price was 3,314, the former settlement price was 3,335, the settlement price was 3,326, down 21, or 0.63%. The trading volume was 47,116, the position was 37,974, and the daily increase was 1,817. (quotation unit: yuan / ton)

Before the Spring Festival, the price continuously bottomed to a relatively low level. At present, the market has rebounded. The rise of international crude oil has brought obvious support to the market. In addition, the demand for downstream storage and replenishment at the end of the holiday has made the overall transaction atmosphere of the market active. Most of the manufacturers' inventories are controllable, and it is expected that China Shandong civil gas market may still rise in the short term.

 

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