Shandong LPG market rose slightly last week (11.14-11.18). According to the data monitoring of SunSirs, the average price of LPG in the civil Shandong market was 5,320 RMB/ ton on November 14, and 5,346 RMB/ ton on November 18, with a weekly increase of 0.49%, down 1.29% compared with the same period last year.

Last week, the LPG market was relatively weak. The low price of Shandong civil gas market pushed up, the high-end price was stable, and the cost atmosphere was fair, but there was obvious resistance to the high price supply. The crude oil fell sharply in the week, which depressed the mentality of the operators. However, the overall inventory in Shandong was not high, and the refinery was willing to support the price. In other regions, the supply of goods at low prices was smooth, and the high-end prices were corrected. On the whole, the downstream demand was flat, mainly relying on low prices and low inventories to stabilize prices.

Last week, the LPG futures market was subject to the pressure of warehouse receipts, and the futures market continued to fall, leading to the deviation of the futures and current trend. On November 18, the opening price of LPG futures contract 2212 was 5,000, the highest price was 5,017, the lowest price was 4,895, the closing price was 4,952, the previous settlement price was 4,976, the settlement price was 4,957, down 24, the trading volume was 80,117, the position was 33,777, and the daily position increase was -6,927. (Quotation unit: RMB/ ton)

On the whole, the crude oil fell sharply, the bad news became worse, and the confidence of the operators was frustrated. It is expected that the short-term civil LPG market in China Shandong will continue to increase the resistance to the rise, focusing on consolidation.

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