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SunSirs: Controllable Inventory, China LPG Market has Increased as a Whole
September 05 2022 09:40:20SunSirs(Selena)

Last week, China domestic liquefied gas market generally operated strongly. Shandong civil gas market mainly increased, and the price fell slightly at the weekend. According to the data monitoring of business news agency, the average price of liquefied gas in Shandong civil market was 5,740.00 RMB/ ton on August 29 and 5,920.00 RMB/ ton on September 2, with a weekly increase of 3.14%, up 24.54% compared with the same period last year.

Last week, the domestic liquefied gas market as a whole was dominated by the above players. The Shandong civil gas market rose significantly, with a small decline on September 2, and the overall increase was greater than the decline. In the early part of this week, boosted by costs, the international crude oil rose significantly, and the liquefied gas market followed. In addition, some regions have ushered in cooling, terminal demand has improved to a certain extent, downstream mentality is better, enthusiasm for entering the market has improved, manufacturers' shipments are smooth, inventory is controllable, and prices have increased one after another. However, in the late part of the week and into September, the international crude oil experienced a continuous decline, which brought limited support in terms of cost. In addition, the CP price was introduced in September, and the prices of propane and butane both fell, which brought some restraint to the market. On September 2, the Shandong civil gas market remained stable in general, and some enterprises reduced slightly.

On September 2, the opening price of LPG futures contract 2210 was 5,490, the highest price was 5,549, the lowest price was 5,463, the closing price was 5,518, the previous settlement price was 5,551, and the settlement price was 5,504, down 33. The turnover was 114,652, the position was 74,476, and the daily increase was -4,085. (quotation unit: RMB/ ton)

At present, the international crude oil price is declining, and the cost has brought limited support to the market. However, the off-season ends and enters September. As the weather continues to cool in the later period, the terminal demand is expected to increase. In addition, the Mid Autumn Festival is coming, and there is a certain demand for replenishment in the downstream before the festival. It is expected that the price of China Shandong civil gas market will still rise in the short term.

 

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