In February, in the early spring festival, Shandong civil gas market prices bottomed continuously, and the overall trend was weak. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 3,676.67 yuan / ton on February 1 and 3,550.00 yuan / ton on February 9, with a decrease of 3.45% before the Spring Festival and an overall increase of 1.72% compared with January 1.
Before the Spring Festival, the overall trend of LPG market is weak, and all regions in China were in a downward trend, but there were some differences in the decline range. Shandong civil gas market prices fell significantly before the festival. After entering February, although the international crude oil continued to rise and the CP price rose in February, the news brought some good news to the market. The market rose slightly on February 2, but the rise did not continue. On February 3, it fell again and did not continue to rise with the crude oil.
With the arrival of the Spring Festival holiday, the transportation declined. The market demand was limited, and the transaction atmosphere decreased significantly compared with the previous period. However, the manufacturers' demand for stock arrangement before the festival was not fully completed, and the prices continuously lowered for shipment. According to their own situation, most manufacturers had different ranges of downward adjustment, but the overall fluctuation was relatively limited.
In the first ten days of February, LPG futures market fell first and then rose, which had limited positive effect on the spot market. On February 9, the opening price of LPG futures contract 2103 was 3,490, the highest price was 3,544, the lowest price was 3,451, the closing price was 3,510, the former settlement price was 3,493, the settlement price was 3,497, up 17, or 0.49%, the trading volume was 66,696, the position was 27,718, and the daily increase was–4,059. (quotation unit: RMB/ ton)
At present, the factory has basically completed the pre Festival warehouse discharge, and the domestic LPG market has stabilized. The price of Shandong civil gas market may rise after the festival, but in the long run, the weather will gradually stabilize after the Spring Festival, China LPG demand will gradually decrease, and the price may fall.
