From August 22nd to 28th, China LPG's comprehensive import to the shore price index was 140.43 points, 132.49 points

On August 31, the comprehensive import of China LNPG (LPG) issued by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and the Shanghai Petroleum and Natural Gas Trading Center showed that from August 22-28 The shore price index was 140.43 points, an increase of 6.39%month -on -month, and an increase of 12.70%year -on -year; the comprehensive import of LNEHExane to the shore was 132.49 points, an increase of 1.99%month -on -month, an increase of 3.31%year -on -year.

In terms of international pricing benchmark, according to the CP released by Saudi Arabia in August 2022; August Poane contract price (CP) was $ 670/ton, a decrease of 7.59%from the previous month, a month -on -month decrease 1.52%; August -butyl contract price (CP) was $ 660/ton, a decrease of 65 US dollars/ton from the previous month, a decrease of 8.97%month -on -month, an increase of 0.76%from the same period last year. Falling to the same period last year, it may curb the rise in the market price level at home and abroad.

In terms of international prices, LPG's international price and crude oil prices are high. From the perspective of crude oil prices, Saudi Energy Minister Abdul-Aziz Bin Salman said last Monday that OPEC+may be used to prevent the recent decline in oil prices; and multiple OPEC oil producing countries may It has also been expressed in the week that it will support Saudi Arabia's production remarks. The market is concerned about the tightening of the OPEC+restart production plan or the supply of supply to deepen. At the same time, according to the official data released by the US Energy Information Administration (EIA) last Wednesday It shows that the latest week of commercial crude oil inventory continues to decline, and the current demand is not good or improved; although the Fed will still have a significant interest rate hike expectation in September or it will suppress some fuel demand, the recent market is concerned about the economic recession. Before the current supply end is tightening, it is strongly concerned. Under this influence, international oil prices have risen steadily. As of last Friday, the settlement price of the main contracts for WTI and Brent crude oil futures was $ 93.06/barrel, and $ 100.99/barrel, respectively, an increase of 2.52%and 4.41%respectively from the previous week. International oil prices are steadily moving, to a certain extent may boost the domestic and foreign LPG market price levels. Due to the trade process, the price of LPG imports from LPG in my country is often lagging behind the international market futures and spot prices. The recent effects of LPG outer disk price fluctuations will gradually appear in the later LPG imports to the shore price.

In terms of the domestic market, the supply side has maintained stability, the demand side gradually improves, and the market has a good atmosphere. At an angle of supply, the actual import of LPG in China last week fell the previous week from the previous week. The shipping resources of Hong Kong ships were mainly concentrated in the East China region. The domestic gas volume mainly came from local refineries. The domestic LPG production increased slightly from the previous week. During the week, the total domestic LPG supply rose slightly from the previous week, and the fundamental fundamentals were neutral. At the perspective of demand, the demand for civil fuel combustion may gradually rise with the end of high temperature weather; the industrial demand will rise steadily. Specifically, in terms of chemical deep processing: the field of propane deep processing, the operating rate of the PDH device continues to rise from the previous week, and the demand for propane chemical industry increases slightly; In a week, the demand for butane chemical increased slightly. Taken together, last weekly, the resource volume to the port was reduced, the domestic gas volume increased slightly, and the overall supply of the market was relatively abundant; the civil demand was still weak. However, as high temperature weather may be approaching, civil demand may gradually rise; industrial demand steadily cumped There are rises, which are specifically manifested in the demand of propylene at the same time, and the overall demand for downstream has gradually risen steadily. Last week, the price of related products related to the domestic LPG industry chain was mostly affected by international oil prices.

China's LPG comprehensive import to the shore price index is compiled by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and the Shanghai Petroleum and Natural Gas Trading Center. /Ton, the price index is 100; the price of China's liquefied butthlate was 3535 yuan/ton, the price index was 100) in the week of my country, which comprehensively reflected the price level of China's LPG import to the shore last week. This is a beneficial exploration of my country's own LPG benchmarking price, which is conducive to improving market transparency, providing important reference for LPG chemical marketization, and conducive to the timely and effective connection between the domestic market and the international market, further enhance my country's country in the international LPG market Influence.

Source of this article | Shanghai Petroleum Natural Gas Trading Center

Author of this article | Chen Yinghao

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