SunSirs: Demand Constrains the Decline of Shandong LPG Market in China
December 27 2022 10:36:10 SunSirs (Selena)
Last week (12.19-12.23), Shandong LPG market was weak and fell. According to the data monitoring of SunSirs, the average price of LPG in the civil Shandong market was 5,240 RMB/ton on December 19, and 5,114 RMB/ton on December 23. The decline rate within the week was 2.4%, up 5.1% compared with the same period last year.
Last week, the LPG market was weak as a whole, and the civil LPG market in Shandong Province fell significantly. On the one hand, affected by the mask incident, the transportation and demand were simultaneously suppressed, and the atmosphere of waiting and watching in the downstream was strong. On the other hand, the market of related products was poor, the demand was difficult to increase, and the price was continuously lowered. As of this Friday, the mainstream price of LPG for civil use in Shandong Province is 5,000-5,250 RMB/ton.
LPG futures market continued its weak decline last week. On December 23, the opening price of the liquefied petroleum gas futures contract 2301 was 4,471, the highest price was 4,515, the lowest price was 4,406, the closing price was 4,471, the previous settlement price was 4,485, the settlement price was 4,460, down 14, the trading volume was 37,452, the position was 21,846, and the daily position increase was -6,589. (Quotation unit: RMB/ton)
On the whole, there will be no great change in the supply side next week, and it will be difficult to improve the demand side in the short term. It is expected that the weak decline of China Shandong civil LPG market will be the main theme this week.
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