Group 1 - The core viewpoint indicates that the liquefied petroleum gas (LPG) market is experiencing a weak downward trend, with futures prices showing fluctuations and a decline of approximately 1.60% [1] - Domestic LPG imports remain high, while downstream demand is recovering but operating levels are still below the same period last year, leading to weakened cost support [1][2] - The price of civil gas in Shandong is reported at 4477 yuan/ton, reflecting a slight decrease of 7 yuan/ton, with chemical demand expected to remain acceptable in the short term [1] Group 2 - The domestic LPG production volume continues to decline compared to last year, with port inventory rebounding to the mid-range of recent years [2] - Downstream combustion demand is in the off-season, and gasoline consumption is at a four-year low, while chemical demand is decreasing [2] - The "gas/oil" price ratio is near its highest level in recent years, but futures are trading at a significant discount [2]
成本端支撑削弱 液化石油气期货行情震荡走低
Jin Tou Wang·2025-07-15 07:16