SunSirs: China Shandong LPG Market Fell nearly 15% in late January

In the second half of January, Shandong's LPG civil market fell continuously, with a drop of nearly 15% as of January 26. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 4,150 yuan / ton on January 15 and 3,560 yuan / ton on January 26, with a decrease of 14.22% during the period, up 2.01% compared with January 1.

In late January, the civil LPG market fell. According to the data of business news agency, the average price of Shandong's civil LPG market reduced nearly 600 yuan / ton from January 15 to 26. The main reason for this is the international crude oil. Since January 15, the trend of international crude oil is not clear. During this period, the main reason is the volatile decline, which is difficult to support the LPG market. Secondly, in terms of demand, the northern market is affected by social and public health events, the demand has declined, and transportation in some areas is limited, which brings some resistance to the market. The downstream is cautious and wait-and-see, the market transaction atmosphere is weak, the manufacturer's shipment is blocked, the ex factory price falls one after another, the inventory pressure is big, the ex factory price is forced to drop continuously, and the market is weak.

In the LPG futures market, the futures market fell frequently in late January, which had limited positive effect on the spot market. On January 26, the opening price of LPG futures contract 2103 was 3,430, the highest price was 3,455, the lowest price was 3,331, the closing price was 3,336, the former settlement price was 3,453, and the settlement price was 3,394, down 117, or 3.39%. The trading volume was 99,325, the position was 54,996, and the daily increase was 13,083. (quotation unit: yuan / ton)

At present, Shandong's civil gas market has stopped falling and stabilized. The slight rise of international crude oil has brought some positive support to the market. The mentality of the downstream has improved, and a small amount of gas has entered the market on demand, but the market transaction atmosphere has not improved significantly. At present, the inventory pressure of manufacturers is still high, and some manufacturers' inventory is at a high level, and the positive market support is limited. It is expected that China LPG price will continue to be weak in the short term, and there is still a possibility of decline.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.