液化石油气日报：盘面低位震荡，关注下方支撑-20250814

Group 1: Investment Rating - No investment rating information is provided in the report Group 2: Core View - The market is in a low - level shock, and attention should be paid to the lower support. The market has limited upward drivers, and the LPG market shows a weak shock trend. The overall supply is abundant, and the demand is weak. The strategy is to be weak in shock, and attention should be paid to the bottom - building signal of the disk [1][2] Group 3: Market Analysis Summary - Regional Price: On August 13, the regional prices of LPG were as follows: Shandong market 4380 - 4450, Northeast market 3990 - 4360, North China market 4360 - 4620, East China market 4350 - 4450, Yangtze River market 4400 - 4600, Northwest market 4100 - 4300, South China market 4298 - 4500 [1] - Imported Goods Price: In the first half of September 2025, the CIF prices of frozen propane and butane in East China decreased by 3 dollars/ton, and the RMB - converted prices decreased by 27 yuan/ton and 28 yuan/ton respectively. In South China, propane decreased by 3 dollars/ton, and butane decreased by 8 dollars/ton, with the RMB - converted propane price down 28 yuan/ton [1] - Market Trend: Crude oil prices have been weak recently. The LPG outer market and domestic futures also show a weak shock. Although the price is low, the upward driver is insufficient. The spot price of domestic civil gas was generally stable, with a slight decline in Shandong [1] - Fundamentals: The global LPG supply - demand pattern remains loose. Overseas supply is abundant, and domestic arrivals may remain high. The demand for the combustion end in the off - season is weak, and the downstream device operating rate in deep - processing has marginally improved but lacks continuous growth momentum [1] Group 4: Strategy Summary - Single - Side Strategy: The market trend is weak in shock. Pay attention to the bottom - building signal of the disk [2] - Other Strategies: No strategies are provided for inter - period, inter - variety, spot - futures, and options [2]