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LPG：地缘冲突升级，关注极端风险
Guo Tai Jun An Qi Huo·2025-06-12 01:26

Report Title - The report is titled "LPG: Geopolitical Conflict Escalates, Focus on Extreme Risks" [1] Report Date - The report is dated June 12, 2025 [1] LPG Fundamental Data Futures Prices and Changes - PG2507 had a yesterday's closing price of 4,130 with a daily increase of 0.27%, and a night - session closing price of 4,133 with a night - session increase of 0.07% [2] - PG2508 had a yesterday's closing price of 4,013 with a daily increase of 0.25%, and a night - session closing price of 4,020 with a night - session increase of 0.17% [2] Trading Volume and Open Interest Changes - PG2507 had a yesterday's trading volume of 46,020, a decrease of 29,278 from the previous day, and an open interest of 50,410, a decrease of 1,934 from the previous day [2] - PG2508 had a yesterday's trading volume of 12,904, a decrease of 3,901 from the previous day, and an open interest of 48,041, an increase of 3,457 from the previous day [2] Price Spreads - The spread between Guangzhou domestic gas and the 07 contract was 500 yesterday, up from 461 the day before [2] - The spread between Guangzhou imported gas and the 07 contract was 590 yesterday, up from 561 the day before [2] Industrial Chain Price Data - The PDH operating rate this week was 63.0%, down from 63.3% last week [2] - The MTBE operating rate this week was 54.7%, up from 54.2% last week [2] - The alkylation operating rate this week was 48.2%, up from 45.7% last week [2] Market Trends - The LPG trend strength is 0, indicating a neutral stance. The trend strength ranges from - 2 (most bearish) to 2 (most bullish) [7] Market News Saudi CP Expectations - On June 10, 2025, the expected July Saudi CP for propane was 580 USD/ton, up 2 USD/ton from the previous day; for butane, it was 550 USD/ton, up 2 USD/ton [10] - The expected August Saudi CP for propane was 563 USD/ton, up 2 USD/ton from the previous day; for butane, it was 533 USD/ton, up 2 USD/ton [10] PDH Plant Maintenance Plans - Multiple companies, including Puyang Yuandong Technology Co., Ltd., Jiangsu Yanchang Zhongran Chemical Co., Ltd., and others, have PDH plant maintenance plans with various start and end times, some of which are still undetermined [8]