Shandong LPG market rose broadly last week (1.2-1.6). According to the data monitoring of SunSirs, the average price of LPG in the civil Shandong market was 5,014 RMB/ton on January 2, and 5,194 RMB/ton on January 6, with a weekly increase of 3.59% and a year-on-year decrease of 5.05%.

During the New Year's Day, the LPG market ushered in a "good start". The Shandong LPG market actively pushed up, with the mainstream price rising to 5,100-5,200 RMB/ton, up or down 250 RMB/ton compared with that before the festival. The positive acceptance of downstream replenishment is acceptable, and the price difference with the substitute propane is widened, further benefiting the LPG market. After the festival, the price of LPG rose to a high level, the downstream staged replenishment was nearing the end, the low-end price rose, and the high-end price retreated. As of this Friday, the mainstream price of LPG for civil use in Shandong was 5,150-5,200 RMB/ton.

Last week, the LPG futures market fluctuated at a low level. On January 5, the opening price of the LPG futures contract 2302 was 4,270, the highest price was 4,298, the lowest price was 4,148, the closing price was 4,264, the previous settlement price was 4,311, the settlement price was 4,238, down 47, the trading volume was 109,310, the position was 68,855, and the daily position increased 1,975. (Quotation unit: RMB/ton)

To sum up, with the temperature drop in the future, the demand for civil gas will increase, but it cannot completely dominate the market price. Under the influence of various factors, it is expected that the high level of Shandong's civil gas market will fall back this week, and the low level market will continue to rise with limited space.

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