Last week (12.20-12.25), the LPG market rose first and then fell. According to the data monitoring of SunSirs, the average price of LPG in Shandong civil market was 3,510.00 RMB/ ton on December 20 and 3,500.00 RMB/ ton on December 25, with a decrease of 0.28% during the period and an increase of 10.53% compared with December 1.

Last week, the civil LPG market was mainly volatile, and the overall trend was still greatly affected by international crude oil, with a magnitude of 2.33%. At the beginning of the week, Shandong's civil gas rose for two consecutive days, while international crude oil rose. The news was favorable to the market mentality, and the manufacturers raised the ex factory prices one after another. The downstream companies had a good enthusiasm to enter the market, and the market transaction atmosphere was mild. However, with the price rising to a relatively high level, the downstream's acceptance capacity was limited, and with the decline of international crude oil, the market mentality was suppressed, the downstream's resistance was increased, and the enthusiasm for entering the market was weakened, so we should be more cautious. Manufacturers shipping blocked, inventory gradually increased, the ex-factory price was forced to be reduced, which stimulated the downstream market.

Last week, the LPG futures market was mainly volatile and fell, with limited positive effect on the spot market. On December 25, the opening price of LPG futures contract 2102 was 3,950, the highest price was 3,974, the lowest price was 3,881, the closing price was 3,960, the former settlement price was 3,918, the settlement price was 3,933, up 42, or 1.07%, the trading volume was 70,741, the position was 41,319, and the daily increase was 624. (quotation unit: RMB/ ton)

At present, the positive support of the market is not obvious, and the weak international crude oil market is limited. However, due to the cold weather in winter, there is a rigid demand in the downstream. And near the end of the year, there is still replenishment demand in the downstream before the New Year, CP is expected to rise in January, and the LPG price is expected to remain strong in the short term in China.

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