China’s domestic LPG market price has been continuously lowered this week (2.3-2.7)

1、 Price trend


This week, the domestic liquefied gas (Shandong) market continued to decline. On February 3, the average price of the liquefied gas market was 3733.33 yuan / ton, and on February 7, the average price was 3650 yuan / ton, with a drop of 2.23% in the week. The price was 6.81% lower than the same period last year.


2、 Analysis of influencing factors


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Product: weak domestic liquefied gas market fell this week, and the market trading atmosphere was flat. As of February 7, the price of LPG from Sinopec Guangzhou Chemical Co., Ltd. is 3850 yuan / ton, from Sinopec Jingmen Petrochemical Co., Ltd. is 3850 yuan / ton, from Sinopec Shanghai Petrochemical Co., Ltd. is 3620 yuan / ton, from Sinopec Qingdao Refining Chemical Co., Ltd. is 3450 yuan / ton, from Shandong Jincheng Petrochemical Group is 4200 yuan / ton, The price of LPG of Sinopec Shijiazhuang refining and chemical company is 3500 yuan / ton. The price of Sinopec Luoyang Petrochemical LPG is 3400 yuan / ton.


This week, the liquefied gas market (Shandong) continued to decline. After the holiday, the international crude oil fell mainly, creating a negative effect on the market. At present, the terminal market is delayed to start work, the demand is significantly reduced, and the downstream market is mainly cautious, with poor enthusiasm for entering the market. The manufacturer’s shipment has been blocked continuously, and the inventory pressure is relatively obvious. Although there is a demand for storage and replenishment after the festival, the market has not improved at present, and the price has been continuously weak.


Saudi Aramco issued CP in February, with propane of 505 US dollars / ton, down 60 US dollars / ton compared with the previous month; butane of 545 US dollars / ton, down 45 US dollars / ton compared with the previous month.


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Industry: according to the price monitoring of the business association, there are two kinds of commodities in the list of commodity prices rising and falling in the fifth week of 2020 (2.3-2.7). The top two commodities are power coal (1.47%) and petroleum coke (1.38%). There are 8 kinds of commodities falling on a month on month basis, and 1 kind of commodities falling by more than 5%, accounting for 6.3% of the number of commodities monitored in the sector; the top 3 products falling are dimethyl ether (- 6.69%), Brent crude oil (- 2.98%) and liquefied gas (- 2.23%). This week’s average was – 0.82%.


3、 Future forecast


Although the holiday is over, the current terminal market is delayed to start, resulting in a significant reduction in demand, the manufacturer’s inventory pressure after the holiday is large, and the continuous interest to stimulate the downstream market, but there is no obvious effect, it is expected to continue to decline next week or the trend.

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