In July, Shandong civil gas market continued the rising trend in June, the price continued to rise, and the off-season market was not weak. According to the data monitoring of business agency, the average price of liquefied gas in Shandong civil market was 4326.67 yuan / ton on July 1 and 4550.00 yuan / ton on July 31. The increase rate in July was 5.16%, an increase of 9.82% compared with June 1.
As of July 30, the mainstream prices of liquefied gas in various regions in China are as follows:
Specifications type of shipping region Mainstream quotation
Civil gas Automobile transportation North China 4500-4600 yuan / ton
Civil gas Automobile transportation East China 4300-4500 yuan / ton
Civil gas Automobile transportation South China 4470-4550 yuan / ton
Civil gas Automobile transportation Shandong region 4500-4550 yuan / ton
In July, affected by seasonal factors, due to the high weather temperature and weak terminal demand, the civil LPG market was in the traditional off-season. However, the off-season market was staged in July this year, and the civil gas market in Shandong was strong and upward. There were many positive factors in the liquefied gas market in July. At the end of June, with the introduction of CP price in July, propylene and butane increased significantly, and the inlet gas price increased. Moreover, the international crude oil price is at a high level. In addition, in terms of supply, the market supply of some manufacturers in Shandong market is reduced due to unit maintenance. Under multiple favorable factors, the liquefied gas market is supported to rise. However, there are still negative factors in the market. The weak terminal demand in the off-season has brought some constraints to the upstream route. The enthusiasm for entering the market in the upper half of the downstream is general, and the second half of the month is more positive, but the overall demand has not improved significantly.
In July, the LPG futures market fluctuated and rose, which brought certain benefits to the spot market. On July 30, the opening price of LPG futures contract 2109 was 5020, the highest price was 5148, the lowest price was 4966, the closing price was 5145, the former settlement price was 4944, the settlement price was 5050, up 201, or 4.07%, the trading volume was 112871, the position was 62395, and the daily position was increased by – 587（ Quotation unit: yuan / ton)
In the international crude oil market, on July 29, the international oil price rose significantly. The settlement price of the main contract in the US WTI crude oil futures market was US $73.62/barrel, up US $1.23 or 1.70%, and the settlement price of the main contract in the Brent crude oil futures market was US $75.10/barrel, up US $1.23 or 1.67%. Previously, the decline of U.S. crude oil inventory was higher than expected, and the tight supply boosted the oil price. Some data showed that the U.S. crude oil supply hit the lowest level since January 2020, and the oil price further increased.
The introduction of CP price in August, the continuous increase of propylene butane, the high level of international crude oil and the upward trend of futures market have brought certain benefits to the liquefied gas market. However, at present, the civil price of liquefied gas has risen to a relatively high level, the downstream has limited ability to accept high prices, and the off-season is not over, and the terminal demand is still weak. The market supply has increased in August, which has brought some constraints to the market. It is expected that the market price of civil gas in Shandong will be high first and then low in August. Specifically, we still need to pay attention to the trend of international crude oil.
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