With the favorable digestion brought about by the skyrocketing price of Saudi Arabian contracts, the bullish price of liquefied gas in February last year finally converged. At the same time, the turmoil in international oil prices has also made the downstream resistance to high-priced liquefied petroleum gas more and more intense. The domestic liquefied petroleum gas market has finally stopped rising and fell, falling by nearly 4% a week.
“Roller coaster†market Since February, the domestic price of liquefied gas has continued to surge. As of March 9, the liquefied gas price of mainstream refineries across the country rose by around 1,500 yuan per ton, or almost 30%. As the daily necessities of domestic residents, the soaring price of liquefied gas has caused great concern from the outside world. Some people in the industry are even worried about whether they will raise the CPI. Some practitioners pointed out that the price hike was caused by the contradiction between the supply of oil and gas by the refiners of PetroChina (10.23, 0.05, 0.49%), Sinopec, and CNOOC.
It is quite coincident that when the “three barrels of oil†was once again placed at the cusp of **, the price of liquefied gas suddenly reversed.
According to the monitoring of the Commodity Data Business Group, from the 5th of March to the end of the previous day, the prices of liquefied gas in the domestic market have been loosened. Among them, there are 100 yuan/ton drop in the refineries along the river and in Shandong, and some in the east and northwest areas. Manufacturers have a decline of 50 yuan per ton. According to the latest data, the average price of the refinery in the domestic market was RMB 7,176 per tonne on March 6, and it fell to RMB 6,890 per tonne on March 13, a drop of nearly 4% in seven days.
Among them, the Guangzhou market's big drop on March 11 has become an important wind vane for this round of roller coasters. On the day of March 11, Guangzhou Petrochemical's liquefied gas prices fell by 300 yuan/ton, and fell below the 8,000 yuan/ton mark, reporting 7,700 yuan/ton. The slump in the South China market subsequently affected the outflow of resources in the North. The price of liquefied gas in various regions continued to grow weakly, and overall shipments in some areas were affected. At the same time, the downstream wait-and-see mood triggered by high prices is becoming more and more concentrated, and the gradual increase in bank pressures has caused sellers to continue to increase their prices.
The prices of alternative energy also fell, and driven by the sharp drop in liquefied gas prices, the price of alternative energy dimethyl ether also declined. According to the statistics of the business community, as of March 14, the average price of dimethyl ether nationwide was 4,338 yuan/ton, which was 5.15% lower than the total of 4,573 yuan/ton on March 5.
“Since March 2nd, international oil prices began to fall, which weighed on the formation of international liquefied gas prices, coupled with weak market demand, sales in South China in the doldrums, and the willingness of manufacturers to lower their offer prices.†explains Zhou Cuiping, gas analyst. .
The reporter learned from the industry that the average operating rate of major domestic refineries is about 82%. Refinery inventory is slowly accumulating as high prices limit downstream demand. At the same time, the high cost led to the inversion of the cost of the LPG retail business at the Tier 3 station, which also began to take a wait-and-see approach.
It is worth noting that there were also many LPG downstream practitioners who bought on dips after prices fell sharply yesterday. Coupled with strong market price adjustments for refined oil products, some refineries are also taking the opportunity to increase prices. In spite of this, due to the lack of favorable supply and demand, the momentum for continued market growth is limited. Zhou Cuiping believes that the market outlook, the domestic liquefied petroleum gas market temporarily does not exist in the conditions of a sharp rise and fall, may move towards a slight shock.
“Roller coaster†market Since February, the domestic price of liquefied gas has continued to surge. As of March 9, the liquefied gas price of mainstream refineries across the country rose by around 1,500 yuan per ton, or almost 30%. As the daily necessities of domestic residents, the soaring price of liquefied gas has caused great concern from the outside world. Some people in the industry are even worried about whether they will raise the CPI. Some practitioners pointed out that the price hike was caused by the contradiction between the supply of oil and gas by the refiners of PetroChina (10.23, 0.05, 0.49%), Sinopec, and CNOOC.
It is quite coincident that when the “three barrels of oil†was once again placed at the cusp of **, the price of liquefied gas suddenly reversed.
According to the monitoring of the Commodity Data Business Group, from the 5th of March to the end of the previous day, the prices of liquefied gas in the domestic market have been loosened. Among them, there are 100 yuan/ton drop in the refineries along the river and in Shandong, and some in the east and northwest areas. Manufacturers have a decline of 50 yuan per ton. According to the latest data, the average price of the refinery in the domestic market was RMB 7,176 per tonne on March 6, and it fell to RMB 6,890 per tonne on March 13, a drop of nearly 4% in seven days.
Among them, the Guangzhou market's big drop on March 11 has become an important wind vane for this round of roller coasters. On the day of March 11, Guangzhou Petrochemical's liquefied gas prices fell by 300 yuan/ton, and fell below the 8,000 yuan/ton mark, reporting 7,700 yuan/ton. The slump in the South China market subsequently affected the outflow of resources in the North. The price of liquefied gas in various regions continued to grow weakly, and overall shipments in some areas were affected. At the same time, the downstream wait-and-see mood triggered by high prices is becoming more and more concentrated, and the gradual increase in bank pressures has caused sellers to continue to increase their prices.
The prices of alternative energy also fell, and driven by the sharp drop in liquefied gas prices, the price of alternative energy dimethyl ether also declined. According to the statistics of the business community, as of March 14, the average price of dimethyl ether nationwide was 4,338 yuan/ton, which was 5.15% lower than the total of 4,573 yuan/ton on March 5.
“Since March 2nd, international oil prices began to fall, which weighed on the formation of international liquefied gas prices, coupled with weak market demand, sales in South China in the doldrums, and the willingness of manufacturers to lower their offer prices.†explains Zhou Cuiping, gas analyst. .
The reporter learned from the industry that the average operating rate of major domestic refineries is about 82%. Refinery inventory is slowly accumulating as high prices limit downstream demand. At the same time, the high cost led to the inversion of the cost of the LPG retail business at the Tier 3 station, which also began to take a wait-and-see approach.
It is worth noting that there were also many LPG downstream practitioners who bought on dips after prices fell sharply yesterday. Coupled with strong market price adjustments for refined oil products, some refineries are also taking the opportunity to increase prices. In spite of this, due to the lack of favorable supply and demand, the momentum for continued market growth is limited. Zhou Cuiping believes that the market outlook, the domestic liquefied petroleum gas market temporarily does not exist in the conditions of a sharp rise and fall, may move towards a slight shock.
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