Entering this week (5.24), Shandong civil gas market will rise again within the month. According to the data of SunSirs, the average price of LNG civilian Shandong market was 4150.00 RMB/ton on May 23, 4223.33 RMB/ton on May 25, and the increase in two days in the week was 1.77%, up 58.77% compared with the same period last year.

As of May 25, the mainstream prices of LPG in various regions of China are as follows:

It is obvious from the trend chart that after entering may, Shandong civil gas market fluctuated frequently. Shortly, the market will rise again in the next month. This uptrend was mainly boosted by the sharp rise of international crude oil. The international crude oil connection continued to push up, the enthusiasm for downstream market entry improved compared with the previous period, and the overall trading atmosphere of the market was mild. The increase of Shandong civil gas is about 30-50 RMB/ton, and the current market mainstream transaction price is 4180-4200 RMB/ton. On the supply side, the supply of civil gas in Shandong has not changed significantly in recent days. On the demand side, due to the obvious warming of the weather, slow terminal demand, long replenishment cycle in the downstream, and weak overall market demand, the current manufacturers are more cautious in ensuring shipment.

In the international crude oil market, on May 24, the international oil price jumped sharply and rose strongly for two consecutive days. The settlement price of the main contract in the US WTI crude oil futures market was US $66.05/barrel, up to US $2.47 or 3.9%. The settlement price of the main contract in the Brent crude oil futures market was US $68.46/barrel, up to US $2.02 or 3.0%. Due to the continuous vaccination, global demand grew; Optimistic market expectations overshadowed the potential risk factors of Iran's crude oil production returning to the international market.

LPG futures market has been rising in recent years, which has brought some support to the spot market. On May 25, the opening price of 2107 of LPG futures contract was 4174, the highest price was 4195, the lowest price was 4112, the closing price was 4136, the previous settlement price was 4159, the settlement price was 4157, the settlement price was down 23, the lowest price was 0.55%, the volume of trading was 63780, the position was 50265, and the daily position was increased by 1024（ Quotation unit: RMB/ton)

On the whole, with the boost of the international crude oil boom, the enthusiasm for downstream market entry has improved, and the market transaction atmosphere is mild. However, the market negative factors are still in place, the terminal consumption is slow, the traditional consumption off-season is coming, and the manufacturers mainly guarantee the delivery. It is expected that the market price of Shandong civil gas will be firm for the time being, and there is still the possibility of a decline in the long term.

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