国内化工需求仍在回升 液化石油气期货短线偏强

Group 1 - The domestic futures market for energy and chemicals shows a predominantly positive trend, with liquefied petroleum gas (LPG) futures experiencing fluctuations around 4500.00 CNY/ton, reaching a high of 4542.00 CNY and a low of 4486.00 CNY, reflecting an increase of approximately 1.30% [1] - The geopolitical tensions in the Middle East, particularly concerning Iran's production and export risks, are contributing to a strong international market, while domestic chemical demand is recovering, leading to increased import costs and potential profit margin pressures [1] - The overall market sentiment indicates a strong performance for LPG, with expectations of continued volatility and potential downward pressure if geopolitical risks ease [1] Group 2 - Recent oil price rebounds have positively influenced LPG prices, although domestic LPG production is slightly below last year's levels, and inventory levels have fluctuated, with port inventory decreasing after reaching high levels [2] - The demand side shows mixed signals, with gasoline consumption at a four-year low, while chemical demand is rebounding, particularly in PDH and MTBE production, although overall profitability remains constrained [2] - Market strategies suggest maintaining a small long position in LPG futures, with stop-loss levels adjusted to around 4150 CNY, as the market is expected to experience wide fluctuations [2]