SunSirs: China LPG Price continued to Rise in September, or exceeded 5,500 RMB/ ton in October
China LPG market rose sharply in September. The average price of Shandong civil gas market exceeded 5,000 RMB/ ton in the middle of the month. The current rise is still continuing, and the price may exceed 5,500 RMB/ ton in October. According to the data monitoring of SunSirs, the average price of LPG in Shandong civil market was 4,760.00 RMB/ ton on September 1 and 5,273.33 RMB/ ton on September 29, with an increase of 10.78% during the month and 89.92% compared with the same period last year.
Since this year, the overall trend of domestic LPG has been strong, and the price is at a relatively high level. With the arrival of the traditional sales peak season in September, the price of LPG civil market continues to rise, and the overall focus has shifted upward. At present, the civil ex-factory quotation of LPG in Shandong is mostly above 5,200 RMB/ ton, rising to the highest point in the year.
In September, Shandong civil gas can be divided into two parts: the first half of the month and the second half of the month. In the first half of the month, it was adjusted horizontally, then it rose rapidly, and the rise continued to the middle of the month. In the second half of the month, the price fluctuated higher. Although the fluctuation was frequent, the overall fluctuation range was limited. On the whole, the overall transaction atmosphere of Shandong civil gas market is mild.
In September, the LPG futures market rose violently and the trend was strong, which brought some positive support to the spot market. On September 28, the opening price of LPG futures contract 2111 was 5,963, the highest price was 6,60, the lowest price was 5,880, the closing price was 6,250, the former settlement price was 5,874, the settlement price was 6,046, up 376, or 6.40%, the trading volume was 234,972, the position was 82,530, and the daily position was increased 9,410. (quotation unit: RMB/ ton)
In October, the demand of LPG civil market was still expected to improve in the later stage, and the international crude oil was running at a high level, which brought obvious support to the market. CP will be issued in October, and it is expected to continue to rise, boosting the market mentality. It is expected that China LPG market in Shandong will continue to rise in October and is expected to rise above 5,500 RMB/ ton.