SunSirs: Favorable Factors, China LPG Market Price Rise

Last week, the domestic LPG market stopped falling and went up, and the civil gas market in Shandong rose significantly. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 5,560.00 RMB/ ton on August 14, and 5,700.00 RMB/ ton on August 19, with an increase of 2.52% in the week and 19.33% compared with the same period last year.

Last week, the overall situation of domestic LPG market was good. The civil gas market in Shandong was higher, and the price fluctuated upward. At the beginning of last week, although the international crude oil price fell, Shandong's civil gas continued to rise. The rise in gasoline prices brought indirect benefits to the market. The downstream mentality was better, the enthusiasm for entering the market was improved, and the prices of manufacturers were pushed up one after another. At the weekend, the international crude oil stopped falling and rose, which brought obvious support to the LPG market, and the price of Shandong civil gas rose again.

On August 19, the opening price of LPG futures contract2210 was 5,274, the highest price was 5,309, the lowest price was 5,225, the closing price was 5,280, the previous settlement price was 5,204, the settlement price was 5,269, up 76, the trading volume was 76,282, the position was 66,515, and the daily increase was 6,698. (quotation unit: RMB/ ton)

At present, the international crude oil price has stopped falling and rising, and the cost has brought some support to the market. However, the off-season has not passed, the terminal demand has not improved significantly, and the restriction brought by the demand is obvious. The market trading atmosphere is general, and there is no obvious change in the supply of Shandong market. It is expected that the price of Shandong civil gas market in China will not be able to act well in the short term, or it will be dominated by narrow consolidation.

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