After the Dragon Boat Festival, Shandong’s civil gas market was supported by favorable conditions, and the overall price rose, but the price rise did not last, and the upward route was blocked again within the month. According to the data monitoring of business society, the average price of LPG in Shandong market was 4140.00 yuan / ton on June 14 and 4183.33 yuan / ton on June 21, with an increase of 1.05% during the period and 48.87% compared with the same period last year.

After the Dragon Boat Festival holiday, there was a certain demand for replenishment in the downstream. In addition, the international crude oil rose significantly, the enthusiasm for entering the market in the downstream was good, the manufacturers delivered smoothly, and the inventory decreased compared with the previous period. Under the guidance of favorable factors, the price of Shandong civil gas rose slightly. However, LPG is in the off-season, and the weak terminal demand has brought obvious restraint to the market, so the rising market has not been continued. The international crude oil dropped significantly on the 17th, and the LPG market was not strong enough, so the price stopped rising and stabilized. After entering this week (21st), as the early positive gradually consumed, prices fell again. At present, the supply of civil gas in Shandong is relatively sufficient, but the demand is general, and the market supply and demand are unbalanced. There is resistance to high prices in the lower reaches, and the enthusiasm for entering the market is obviously weaker than that in the earlier stage.

The recent rise of LPG futures market has brought some support to the spot market. On June 21, the opening price of LPG futures contract 2108 was 4486, the highest price was 4553, the lowest price was 4453, the closing price was 4519, the former settlement price was 4475, the settlement price was 4513, up 44, or 0.98%, the trading volume was 74433, the position was 48785, and the daily increase was 4107（ Quotation unit: yuan / ton)

On June 21, international oil prices rose sharply, with the settlement price of the main contract in the US WTI crude oil futures market at US $73.12/barrel, up US $1.48 or 2.07%. Brent crude oil futures market settlement price of the main contract at 74.90 U.S. dollars / barrel, or 1.39 U.S. dollars or 1.90%. People are full of confidence in the sustained economic recovery and strong demand growth. In addition, Iran’s presidential election is expected to continue to delay the resumption of us Iran nuclear talks.

At present, in the traditional off-season LPG market, the weak terminal demand is the main reason to restrain the market upward. Most of the lower reaches maintain replenishment on demand, and the overall enthusiasm for entering the market is relatively general. At present, the inventory of manufacturers in Shandong market is at a controllable level, and there is no obvious inventory pressure. In addition, the international crude oil rose sharply on the 21st, which brought some support to the market. It is expected that the price of Shandong civil gas market will be strong in the short term, and it is still likely to fall in the long term.