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SunSirs: The Domestic Liquid Petroleum Gas (LPG) Market Rose and Fell in October

October 30 2019 17:03:17     SunSirs (Selena)

  1. Price Trend

In October, the domestic LPG (Shandong) market rose first and then declined, and the overall market rose slightly. At the beginning of the month, the average domestic LPG market price was 3,760 RMB/ ton, the average price at the end of the month was 3,923.33 RMB/ ton, the monthly price rose by 4.34%, the price fell 13.03% compared with the same period last year.

  1. Analysis of Influencing Factors

In October, the domestic LPG market price rose slightly. As of October 28, the ex-factory price of LPG of Sinopec Guangzhou Branch was 3,700 RMB/ton, that of Jingmen Branch was 3,850 RMB/ton, that of Shanghai Petrochemical Co., Ltd. was 3,600 RMB/ton, that of Qingdao Refining and Chemical Company was 3,850 RMB/ton, and that of Shandong Jincheng Petrochemical Group was 3,870 RMB/ton. The ex-factory price of LPG of Sinopec Shijiazhuang Refining and Chemical Company was 3,900 RMB/ton, and that of Luoyang Petrochemical Company was 3,950 RMB/ton.

In October, the trend of LPG was mostly affected by international crude oil, and the market situation was improved first and then suppressed. At the beginning of the month, driven by the increase of CP price in October, the mentality of the operators was mostly strong, they were more active in entering the market, the manufacturers delivered goods well, petrochemical enterprises increased their prices substantially, which led local enterprises to actively keep up with the increase, and the prices were strong and up during the long holiday. However, the trend of international crude oil was weak during this period. With the price rising, the overall trading atmosphere of the market had become weak. Shandong region took the lead in lowering the price, giving priority to profit shipment. In the later stage, with the completion of downstream replenishment, the stock was withdrawn and consumed one after another. Under the double pressure of sales and inventory, the manufacturer made profit for shipment. However, the rebound of international crude oil had supported the market, the market decline had slowed down, and the horizontal market had been adjusted. International crude oil continued to rise slightly, and some manufacturers tried to push up to stimulate the downstream market, but the actual improvement was not obvious, and the price fell again. At present, the expected fluctuation of CP in November is not large, the import resources are abundant, and the international crude oil is expected to fall, which has limited positive effect on LPG market, and seasonal rigid demand supports LPG market.

  1. Market Forecast

According to the LPG analysts of SunSirs, the temperature falls in November. With the arrival of the heating season in the north, the domestic demand may be affected, but the demand in the South will rise, and the market will have limited space to rise and fall. It is expected that in the short term, narrow range adjustment will be the main trend, and the trend in November may fluctuate and rise.

 

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