SunSirs: The Price of LPG is Pushing Up
November 15 2022 09:55:09 SunSirs (Selena)
Last week, Shandong LNG market rose as a whole, with a slight correction on Friday. According to the data monitoring of SunSirs, the average price of liquefied gas in the civil Shandong market was 5,256 RMB/ ton on November 7 and 5,310 RMB/ ton on November 11, with a weekly increase of 1.03% and a year-on-year decrease of 2.96%.
Last week, the Shandong civil gas market rose steadily, and the downstream market actively entered, so the cost atmosphere was fair. The refinery's inventory is in the middle, and there is an obvious willingness to maintain prices. However, as the international oil price fell for three consecutive times in the week, the downstream market entry mentality became weaker. Although the market rebounded, the decline was greater than the increase, which depressed the confidence of the industry. Since the beginning of this week, the prices of individual factories have experienced a small correction in order to smooth the delivery of goods.
LPG futures market fell last week, with limited support for the spot market. On November 11, the opening price of LPG futures contract 2212 was 5,180, the highest price was 5,292, the lowest price was 5,162, the closing price was 5,218, the previous settlement price was 5,209, the settlement price was 5,217, down 9, the trading volume was 126,039, the position was 60,058, and the daily position increase was -2,600. (Quotation unit: RMB/ ton)
On the whole, the price has risen, the downstream has a sense of resistance, the purchase of gas has weakened, and the factory inventory is controllable as the current main price support point. In order to prevent the inventory from rising, it is expected that China Shandong LPG civil market will fall steadily this week.
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