During the Spring Festival in February, Shandong’s civil gas market is in stages. The trend before and after the festival is different. Before the festival, the market is mainly weak, and after the festival, the market is on a short roller coaster. According to the data monitoring of the business society, the average price of LPG in Shandong market was 3676.67 yuan / ton on February 1 at the beginning of the month, and 3773.33 yuan / ton on February 28 at the end of the month. The overall price rose by 2.63% in February, and the maximum amplitude was 10.80%, up 8.12% from January 1.
As of February 26, the mainstream prices of LPG in various regions of China are as follows:
Specification ﹣ mode of transportation ﹣ region ﹣ mainstream quotation
Civil gas and automobile transportation in North China: 3760-3850 yuan / ton
Civil gas and automobile transportation in East China: RMB 3650-3770 / T
Civil gas and automobile transportation in South China: 3950-4180 yuan / ton
Civil gas and automobile transportation in Shandong Province: 3900-4100 yuan / ton
It can be seen from the data of business community that LPG fluctuated frequently in February, with a relatively large range. The whole can be divided into two stages before and after the Spring Festival. Before the festival, the overall trend of LPG civil market was 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. On the 3rd, it began to decline continuously. Before the festival, due to the decline in transportation, the downstream replenishment has ended one after another, and they have withdrawn from the market to wait and see. The market demand is limited, and the transaction atmosphere is significantly lower than that in the early stage. However, the manufacturers’ demand for stock arrangement before the festival has not been fully completed, and the prices are continuously lowered for shipment. Most manufacturers adjust according to their own situation, and the overall weakness is the main.
After the festival, the LPG civil market took a short “roller coaster”, the price rose first and then fell, and warmed up again at the end of the month. After the holiday, the market as a whole rose to varying degrees, and the market rebounded. Shandong market actively pushed up from February 18 to 19, with an overall increase of 300-500 yuan / ton compared with that before the festival, with an increase of more than 10% in just two days. The main reason for the rise was that the rise of international crude oil was good for the civil gas market, and the demand for downstream storage and replenishment after the festival, which made the market atmosphere more positive, and the manufacturers’ mentality was strong, and the market was not stable Most of the regions actively pushed up.
However, the price rise was too short-lived and began to decline significantly on February 19. Due to the insufficient follow-up of terminal demand, the enthusiasm of downstream market entry has obviously weakened, the manufacturers’ shipment has been blocked, the inventory has gradually increased, and they have been forced to lower the ex factory price and give way to the profit for shipment. Shandong’s civil gas market fell significantly. Until the end of the month, driven by the rise of international crude oil, the market followed up again, and CP issued an expectation for the rise of reserves in March at the end of the month, which also brought certain benefits to the market. The price of civil gas stopped falling and rose slightly.
In February, the LPG futures market fell first and then rose, which brought phased support to the spot market. On February 26, the opening price of LPG futures contract 2104 was 4071, the highest price was 4092, the lowest price was 3964, the closing price was 4042, the former settlement price was 4068, the settlement price was 4016, down 26, or 0.64%. The trading volume was 146496, the position was 31220, and the daily increase was – 5300. (quotation unit: yuan / ton)
On the whole, the LPG civil market in February was greatly affected by the Spring Festival, with frequent overall fluctuations and large differences in the trend before and after the festival. At present, CP rose in March, and propane butane rose slightly, but due to the limited increase, the support to the market was limited. At present, the market supply is relatively sufficient, but the demand is weak. In March, with the warming weather, the demand is still expected to weaken. However, in February, driven by the rise of international crude oil, the whole energy sector rose more than fell less. It is expected that Shandong civil gas market will still rise in March, but the rise will be limited to a certain extent.