SunSirs: The Demand for LPG in China Shandong increased slightly
December 12 2022 09:55:45 SunSirs (Selena)
Shandong LPG market rose slightly last week (12.5-12.9). According to the data monitoring of SunSirs, the average price of LPG in the civil Shandong market was 5,210 RMB/ton on December 5, and 5,250 RMB/ton on December 9, with a weekly increase of 0.77%, down 0.30% compared with the same period last year.
Last week, the LPG market has risen steadily, and the civil LPG market in Shandong Province has actively pushed up. However, considering the downstream acceptance, the push up is small. During the week, the refinery had a smooth flow of goods, and the downstream demand has warmed up. At the same time, with the gradual liberalization of local control policies and the recovery of road transportation, the market trading atmosphere has improved. However, the crude oil continued to fall in the subsequent market, resulting in insufficient momentum for the rise, and the market has stabilized. As of this Friday, the mainstream price of LPG for civil use in Shandong was 5,200-5,350 RMB/ton.
Last week, the LPG futures market was dominated by weak shocks. On December 8, the opening price of the liquefied petroleum gas futures contract 2301 was 4,660, the highest price was 4,696, the lowest price was 4,631, the closing price was 4654, the previous settlement price was 4,662, the settlement price was 4,662, down 8, the trading volume was 83,487, the position was 74,675, and the daily position increase was -3,254. (Quotation unit: RMB/ton)
On the whole, there will be no big change in the supply side next week, and the demand is oriented to good development, but the international oil price has negative impact. Under the long short game, it is expected that China LPG market will operate in a narrow range next week.
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