Group 1 - The LPG supply in the US and the Middle East is expected to increase by 2026, which, combined with weak downstream petrochemical demand, will exert downward pressure on LPG prices [1] - The average CFR Northeast Asia price for propane is projected to drop significantly to $547.92 per ton in 2025, down from $628.23 per ton in 2024 [1] - The LPG market is currently buyer-dominated, and the supply-demand balance is expected to improve in 2026 compared to 2025, although potential demand collapse could lead to significant market volatility [1][3] Group 2 - The new supply in the LPG market is likely to come primarily from the US Enterprise Products Partners, with expectations of lower propane spot prices, especially in the second half of 2026 [2] - Enterprise Products Partners has recently launched a 550-mile pipeline with a capacity of 600,000 barrels per day and plans to commission additional gas processing plants in 2026 [2] - The impact of new PDH facilities on LPG demand is expected to be limited, as the scale of new capacity is not as significant as in previous years, leading to reduced expectations for demand support [2] Group 3 - The global petrochemical market is anticipated to remain sluggish in 2026, with ongoing pressure from new capacity and slow demand recovery [3] - Geopolitical factors, weather changes, and shipping rate fluctuations are expected to influence the Asian LPG market in 2026 [3] - The current lack of long-term contract orders may lead to increased activity in the spot market, with prices potentially fluctuating rapidly based on supply and demand changes [3]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Asia is the core recipient region for global LPG exports, with supply mainly from the Middle East and the United States, and imports concentrated in a few key Asian countries/regions. The global LPG exports to Asia feature high concentration at the export - end, a trend towards Asia - bound flow, and a situation where the import - end is dominated by a few countries with distinct demand attributes [2][7][9]. - In 2026, the incremental supply of Asian propane is relatively clear, but the time and rhythm of capacity realization need attention. The demand shows significant regional marginal differentiation. The annual supply - demand pattern of Asian propane is expected to evolve from tight in the first half to loose in the second half [2][3]. 3. Summary by Related Catalogs 3.1 Asian Propane Trade Flows - Global LPG supply to Asia is mainly from the Middle East and the United States. As of 2025, the Middle East's propane export to Asia exceeded 25 million tons/year, with the UAE, Iran, and Qatar being major exporters. The US exports over 30 million tons of propane to Asia annually, affecting the regional price and supply - demand balance. Other regions like Canada, Australia, and West Africa play a supplementary role [7]. - Asian propane imports are concentrated in China, India, Japan, South Korea, and Southeast Asia. China's imports account for nearly 40%, with a "chemical - dominated" demand structure. India accounts for about 20%, with demand mainly for residential combustion. Japan focuses on combustion - related demand, South Korea on chemical device operations, and Southeast Asia has seen incremental demand due to large - scale chemical device investments [9]. 3.2 Supply: Incremental Supply is Relatively Clear, Focus on Actual Capacity Release 3.2.1 Middle East: Monitor OPEC+ Production Policy and New Capacity Release - In 2025, Middle Eastern LPG exports reached 47.66 million tons, with a year - on - year growth of about 4.0%. The UAE, Qatar, Iran, Saudi Arabia, and Kuwait are major exporters. Over 95% of Middle Eastern LPG is shipped to Asia, with 45% going to India and 38% to China [10][14]. - In 2026, new LPG capacity projects are concentrated in Saudi Arabia, Qatar, the UAE, and Iran. In the first half, the focus is on whether UAE projects can be realized, with an expected monthly incremental supply of about 0.5 VLGCs if successful. In the second half, the key lies in Saudi Arabia and Qatar. If projects like Jafurah, Tanajib, and North Field East are launched as planned, it will significantly increase the Middle East's LPG export capacity, with a potential monthly incremental supply of 2 - 4 VLGCs [17]. - Iran's LPG exports are expected to remain flat in 2026, as the country can meet the demand of new PDH plants by increasing domestic production [18]. 3.2.2 United States: Moderate Production Growth and Significantly Improved Export Capacity - From January to November 2025, US LPG exports were 62.71 million tons, a year - on - year increase of 3.1%. China's imports from the US decreased, while India and Southeast Asia increased their purchases. European imports also rose [19]. - In 2026, the US propane export capacity is expected to support an additional monthly supply of about 3 - 4 VLGCs. However, US propane production growth is expected to slow down, with an expected annual increase of about 750,000 tons and a year - on - year growth rate dropping to about 1%. But due to high inventory levels, production will not significantly limit exports in the short term [23][24]. 3.3 Demand: Regional Marginal Factors Differ, and Pay Attention to the Realization Rhythm of Chemical - End Impact in 2026 3.3.1 China: Dominated by Chemical Use, PDH Determines Marginal Changes - In 2025, China's propane imports were about 25 - 26 million tons. The demand is mainly for chemical use, with PDH accounting for about 81%, cracking for about 15%, and combustion for about 4% [28]. - By the end of 2025, China's PDH total capacity was close to 25 million tons/year, with a new - capacity growth rate of 11%. In 2026, the new - capacity growth rate will slow down to 5%. PDH device profits are expected to recover, and the average operating rate is expected to rise, driving an annual propane demand increase of about 1.5 - 2 million tons [31][37]. - In 2025, the demand for propane in domestic cracking devices decreased. In 2026, this weak demand is expected to continue [38][40]. - China's propane combustion demand is mainly in South China, with a small scale and limited impact on overall imports [42]. 3.3.2 Japan: Dominated by Combustion Use, Import Demand Shows Seasonal Fluctuations - In 2025, Japan's propane imports were about 8.7 million tons, a year - on - year increase of about 2.4%. The demand is mainly for combustion, and the import volume has seasonal characteristics. In 2026, Japan's import dependence will remain high, and the import volume is expected to remain stable at a high level [45][48]. 3.3.3 South Korea: Dominated by Chemical Use, Cracking Determines Import Rhythm - In 2025, South Korea's domestic propane production was about 550,000 tons, and imports were about 6.4 million tons. Propane demand is mainly for chemical and industrial use. In 2026, South Korea's propane import demand is mainly restricted by the operation of chemical devices [50][53][55]. 3.3.4 India and Southeast Asia - In 2025, India's propane imports increased by about 8% year - on - year. In 2026, the growth of combustion demand will slow down, and chemical demand will increase due to new PDH and ethylene cracking devices [56]. - In 2025, Southeast Asia's propane demand increased due to the commissioning of new cracking devices. In 2026, the propane chemical demand in Vietnam's Long Son device may decrease, but the time is uncertain [56]. 3.4 2026 Asian Propane Balance Sheet - In 2026, the supply - demand pattern of Asian propane will evolve from tight in the first half to loose in the second half. In the first quarter, the supply is still tight but shows marginal improvement. The demand is supported by combustion in Japan, South Korea, and India, while the chemical - end demand is under pressure. In the second quarter, the market is in a transition phase. In the second half of the year, the supply will increase as new capacity is released, and the demand growth will slow down, leading to a looser supply - demand pattern [58].

Core Viewpoint - The LPG market is experiencing limited driving forces, with mixed factors affecting short-term fundamentals and a prevailing expectation of oversupply in the medium term [4][5]. Market Performance - As of December 31, LPG futures showed a strong performance, with the main contract priced at 4151.00 yuan/ton, reflecting a 1.44% increase [1]. Price Adjustments - Saudi Aramco announced an increase in January CP for propane and butane, with propane priced at $525/ton (up $30 from December) and butane at $520/ton (up $35 from December) [2]. - Estimated import costs for propane are around 4700 yuan/ton, while butane is approximately 4662 yuan/ton [2]. Import Data - In November 2025, China's total LPG imports reached 2.9161 million tons, a decrease of 0.74 thousand tons (0.25% decline) from October, but a year-on-year increase of 26.87% compared to the same period last year [2]. Supply Dynamics - The supply from Russia to Europe is projected to decline by 44% to 18 billion cubic meters, marking the lowest level since the early 1970s [2]. - Despite tight supply from the Middle East, domestic traders are reluctant to pay high premiums, limiting upward price movement [4]. Market Sentiment - The current market sentiment indicates that while there is some support for LPG prices, significant upward movement is unlikely, with prices expected to remain volatile [5].

Core Viewpoint - Jiufeng Energy (605090) has achieved a significant milestone in its LNG and LPG shipping capacity, with annual turnover capacity exceeding 5 million tons, indicating strong operational efficiency and asset utilization [1] Group 1 - The company currently controls multiple LNG and LPG vessels, enhancing its operational capabilities [1] - The annual turnover capacity of the company's vessels has surpassed 5 million tons, reflecting robust performance [1] - The company is actively providing external shipping services to maximize the utilization of its vessel assets [1]

1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoints of the Report - LPG prices mostly fluctuate following the trends of external propane and crude oil. Recently, the domestic PG has been relatively strong, mainly influenced by its stable fundamentals. However, from an expected perspective, the trend is under pressure. Overseas supply remains resilient, and domestic PDH profits are severely pressured. There is short - term support, and marginal changes should be monitored [2]. - The near - term trading logic shows that the current situation is relatively neutral to strong, while the expectation is relatively weak. The long - term trading expectation is affected by multiple factors on both the supply and demand sides [5][9]. 3. Summary by Relevant Catalogs 3.1 Core Contradictions and Strategy Recommendations 3.1.1 Core Contradictions - Cost - end: The international crude oil market is volatile, facing fundamental pressure of oversupply and geopolitical risks. It once fell below $60 this week but rebounded later and remained weak overall [1]. - External propane: The overseas propane market is relatively strong. US production decline has led to inventory reduction, and Middle - Eastern shipments are still low, with a tight supply pattern continuing [1]. - Domestic fundamentals: Supply - side arrivals are low this week, and port inventories are decreasing. On the chemical demand side, PDH's operating rate has risen to 75% but is in deep - loss, and there are rumors of some enterprises' planned maintenance [1]. 3.1.2 Trading - Type Strategy Recommendations - Market positioning: The market is in a volatile state, with the PG02 price range at 3800 - 4400 [13]. - Strategy suggestions: The basis strategy and the calendar - spread strategy are both volatile. For the hedging and arbitrage strategy, narrow the internal - external price difference and widen the PP/PG ratio when the price is low [13]. - Recent strategy review: PG1 - 2 and PG3 - 4 reverse spreads have been closed with profits. The long - PP and short - PG position is under observation. It is expected that some enterprises will enter maintenance in the first quarter, and attention should be paid to widening the 05PP/03PG ratio [14]. 3.1.3 Industrial Customer Operation Recommendations - LPG price range forecast: The monthly price range is 3800 - 4400, with a current 20 - day rolling volatility of 22.82% and a historical percentage of 39.18% in three years [15]. - Hedging strategy: Different hedging strategies are recommended for inventory management and procurement management, including futures and options hedging, with specific suggestions on the trading direction, hedging ratio, and entry range [15]. 3.2 This Week's Important Information and Next Week's Focus Events 3.2.1 This Week's Important Information - Bullish information: Six departments have issued a notice to promote the clean and efficient utilization of coal projects and eliminate backward production capacity. Geopolitical factors support oil prices, and domestic fundamentals are relatively strong, with port inventories decreasing and PDH demand stable in the short - term [16]. - Bearish information: No bearish information is provided in the report. 3.2.2 Next Week's Focus Events - December 22: China's December LPR. - December 23: The revised value of the annualized quarterly - on - quarterly growth rate of the US real GDP in the third quarter [22]. 3.3 Disk Interpretation 3.3.1 Price - Volume and Capital Interpretation - Domestic market: The PG01 contract fluctuated upward this week. There were minor changes in the net positions of major profit - making seats, long - 5 and short - 5 positions in the top - 10 list, and net positions of powerful seats, foreign investors, and retail investors [19]. - Technical analysis: The PG01 contract fluctuated upward this week, oscillating between 4000 - 4200 on the daily chart [20]. - Basis and calendar - spread structure: The LPG calendar - spread still shows a BACK structure, with the 1 - 2 month spread at 119 yuan/ton (+35) [24]. 3.3.2 External Market - Unilateral trend: FEI M1 closed at $512/ton (-2), CP M1 at $498/ton (-9), and MB M1 at $339/ton (-9). The swap market weakened along with crude oil, and there were many cancellations of Chinese tenders for January - February [27]. - Calendar - spread structure: This week, the FEI M1 - M2 spread was $20/ton (+1), CP M1 - M2 was $6/ton (-3), and MB M1 - M2 was $1.3/ton (-1.6) [35]. - Regional price - difference tracking: US propane demand weakened recently, and the FEI - MB and CP - MB price differences strengthened [37]. 3.4 Valuation and Profit Analysis 3.4.1 Upstream Profits - This week, the gross profit of major refineries was 614 yuan/ton (-31), and that of Shandong local refineries was 471 yuan/ton (+29). Profit fluctuations were small [40]. 3.4.2 Downstream Profits - PDH profits calculated by FEI and CP were - 289 yuan/ton (-46) and - 430 yuan/ton (+122) respectively, indicating continuous losses. MTBE gas - fractionation profit, isomerization profit, and alkylation oil profit were - 80 yuan/ton (-17), - 265 yuan/ton (-77), and - 510 yuan/ton (-37) respectively, with small recent fluctuations [42]. - Import profits: External spot prices weakened slightly this week, while domestic import gas prices remained stable, leading to the restoration of import profits [45]. 3.5 Supply - Demand and Inventory 3.5.1 Overseas Supply - Demand - US supply - demand: This week, production declined slightly, demand was weak, and inventory was slowly decreasing. From January to November, US LPG exports totaled 62,703 kt, a year - on - year increase of 3.09%, with exports to China decreasing by 40% [49][56]. - Middle - Eastern supply: From January to November, Middle - Eastern LPG exports totaled 44,850 kt, a year - on - year increase of 2.88%. Exports to India decreased by 1.55%, while those to China increased by 27%. Shipments have been low recently [59]. - Indian supply - demand: From January to November, India's LPG demand totaled 30,101 kt, a year - on - year increase of 6.26%, and imports totaled 21,048 kt, a year - on - year increase of 7.49%. The second half of the year is the seasonal peak, with high demand and imports [64]. - South Korean supply - demand: South Korea's LPG demand has no obvious seasonality. Imports were high from May to September. Currently, propane cracking profits are still better than naphtha, and imports are expected to remain relatively high [73]. - Japanese supply - demand: Japan is highly dependent on imported LPG, and its demand and imports have obvious seasonality. With the cooling weather, imports are expected to increase [83]. 3.5.2 Domestic Supply - Demand - Supply: With high refinery profits, domestic LPG production is expected to remain high, but external sales volume is not high. Import volume is also not high [87]. - Demand: Chemical demand decreases, while combustion demand increases. Chemical demand in the fourth quarter is better than expected [87]. - Inventory: Overall, inventory decreased slightly, mainly at ports [87].

Group 1 - The core viewpoint of the articles indicates that the liquefied petroleum gas (LPG) production in Heilongjiang Province has shown an increase in the first eight months of 2025, reaching 107.7 thousand tons, which is an 11.0% growth compared to the same period in 2024, although the growth rate has slowed down by 8.2 percentage points compared to the previous year [1] - The LPG production in Heilongjiang Province accounted for 3.1% of the national LPG production of 3,527.7 thousand tons during the same period [1] - In August 2025, the LPG production in Heilongjiang Province reached 16.0 thousand tons, marking a 27.0% increase compared to August 2024, but the growth rate has decreased by 26.3 percentage points compared to the previous year [2] Group 2 - The August 2025 LPG production in Heilongjiang Province represented 3.6% of the national LPG production of 449.5 thousand tons for that month [2] - The data reflects a trend of slowing growth in LPG production in Heilongjiang, despite being higher than the national average growth rates [1][2] - The statistics are based on large-scale industrial enterprises with annual main business income of 20 million yuan or more [6]

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Report's Core View - The Middle East has a tight supply of LPG, and prices are unlikely to fall significantly in winter. The domestic market is expected to be weak in the short - term, with attention on the subsequent PDH operation under high - cost conditions and the situation of factory - warehouse warrants [4] Group 3: Summary by Related Catalog Price and Basis - In the civil gas segment, prices in East China were 4408 (-5), Shandong 4440 (-20), and South China 4460 (+0). The price of ether - after carbon four was 4570 (+20). The lowest delivery area was East China, with a basis of 198 and a daily change of (+5). The 01 - 02 monthly spread was 155 (+1), and the 03 - 04 monthly spread was - 212 (+18). As of 21:00, FEI was 506 (-6) and CP was 503 (+0) dollars/ton [4] - The PG futures price dropped due to falling oil prices, PDH shutdown news, and an increase in warrants. The basis was 265 (+122), the 01 - 02 monthly spread was 84 (+5), and the 03 - 04 monthly spread was - 223 (-12). The number of warrants was 5476 lots (+865). Domestic civil gas prices declined, and the cheapest delivery product was East China civil gas at 4419 [4] External and Internal Market Relationships - The external paper market first rose and then fell. The FEI and CP monthly spreads strengthened, while the MB monthly spread weakened; the oil - gas ratio declined. The internal - external relationship weakened, with PG - CP at 71 (-28) and PG - FEI at 65 (-14). The US - Asia arbitrage window opened. The arrival premium for propane in East China was 85 (-7), and the FOB premiums for propane in AFEI, the Middle East, and the US were 42 (+12), 42 (+17), and 47 (+4) respectively. Freight rates increased slightly [4] Profit and Operation - The spot and futures profits of PDH weakened; the alkylation unit's performance deteriorated; the MTBE profit fluctuated. The arrival volume increased by 12.25%, port inventory increased by 3.22%, external sales increased slightly by 1.3%, and refinery storage capacity increased slightly by 0.27%. The chemical demand had poor profit but strong operating rates, with the PDH operating rate at 72.87% (+2.65 pct) [4]

Report Industry Investment Rating - The report does not provide an industry investment rating. Core Viewpoints - This week, the LPG price was mainly affected by the weakening domestic fundamentals, with an increase in supply and a decrease in demand expectations, leading to a significant decline in the disk price. However, the price rebounded slightly on Friday night due to the influence of the SASAC's "anti - involution" policy, and the market volatility increased [2][6]. - In the short - term, the LPG market is expected to be in a volatile state, with the price range of PG01 predicted to be between 4000 - 4500 yuan/ton [16]. - In the long - term, the LPG market is affected by multiple factors on both the supply and demand sides. The supply pressure from the US is relatively large, while the demand in different regions shows different characteristics [13]. Summary by Directory Chapter 1: Core Contradictions and Strategy Recommendations 1.1 Core Contradictions - Cost - end: Crude oil was under the pressure of oversupply and geopolitical issues, and it oscillated weakly this week but remained within the oscillation range [1]. - Overseas market: It was relatively strong. US demand increased and inventory decreased, while Middle - East shipments remained at a low level. The FEI premium was $37.25, and the CP premium was $42 [1]. - Domestic fundamentals: They weakened slightly. The supply increased due to the rise in arrivals, and port inventory accumulated. On the demand side, although PDH started to operate at a higher rate due to the resumption of production in some enterprises, there were rumors of maintenance plans, and the demand expectation weakened. The number of warrants increased to 5476 this week [1][6]. 1.2 Trading - type Strategy Recommendations - Market positioning: Oscillation, with the price range of PG01 at 4000 - 4500 yuan/ton [16]. - Basis strategy: Oscillation. The basis strengthened as the disk price fell from its high this week [16]. - Spread strategy: Reverse arbitrage (3 - 4) at high prices [16]. - Hedging and arbitrage strategy: Narrow the internal - external spread and widen the PP/PG ratio at low prices [16]. 1.3 Industrial Customer Operation Recommendations - LPG price range forecast: 4000 - 4500 yuan/ton, with a current volatility of 23.00% and a historical percentage of 40.18% in the past 3 years [17]. - Hedging strategy: For inventory management, when inventory is high, short PG futures and sell call options; for procurement management, when inventory is low, buy PG futures and sell put options [17]. Chapter 2: This Week's Important Information and Next Week's Attention Events 2.1 This Week's Important Information - Positive factors: The Fed cut interest rates by 25BP as expected, and the overseas market remained tight with high premiums [24]. - Negative factors: The number of warrants increased to 5476, and the PDH maintenance expectation increased [24]. 2.2 Next Week's Attention Events - On December 16, pay attention to the US unemployment rate; on December 18, pay attention to the US CPI year - on - year. Also, focus on the further implementation of high - energy - consumption project control [24]. Chapter 3: Disk Interpretation Unilateral Trend and Capital Movement - The PG01 contract oscillated and declined this week. The net positions of major profitable seats decreased slightly, and the long positions of the top 5 in the order book decreased significantly, while the short positions of the top 5 remained unchanged. The net short positions of powerful seats decreased slightly, and the net long positions of foreign investors decreased slightly while those of retail investors increased slightly [21]. Basis and Spread Structure - The LPG term structure remained in a BACK structure this week, with the 1 - 2 spread at 84 yuan/ton (+5) [25]. - In the overseas market, the FEI M1 - M2 spread was $19/ton (+6); the CP M1 - M2 spread was $9/ton (+4.5); the MB M1 - M2 spread was $2.9/ton (-3.25). FEI and CP were generally suitable for positive arbitrage [37]. Chapter 4: Valuation and Profit Analysis Upstream Profits - The gross profit of major refineries was 645 yuan/ton (+52), and that of Shandong independent refineries was 443 yuan/ton (-12). The profit fluctuations were not significant this week [42]. Downstream Profits - The PDH profit calculated by FEI was - 237 yuan/ton (+109), and that calculated by CP was - 553 yuan/ton (+16), indicating continuous losses. The MTBE gas - separation profit was - 63.75 yuan/ton (-1.25), the isomerization profit was - 188 yuan/ton (-138), and the alkylation oil profit was - 473 yuan/ton (-61) [44]. Chapter 5: Supply, Demand, and Inventory 5.1 Overseas Supply and Demand - US supply and demand: With the cooling weather, weekly demand improved significantly, but production was relatively high, and inventory decreased at a normal rate. From January to November, US LPG exports increased year - on - year, but the volume to China decreased [52][57]. - Middle - East supply: From January to November, Middle - East LPG exports increased year - on - year. Shipments were low in November due to high domestic demand [60]. - Indian supply and demand: From January to November, India's LPG demand and imports increased year - on - year. The second half of the year was the peak season, with high demand and imports [62]. - South Korean supply and demand: The seasonality of LPG demand was not obvious. The import volume was expected to remain at a relatively high level, but there was a slight increase in November and a recent rebound [65]. - Japanese supply and demand: Japan was highly dependent on LPG imports, and the demand and import seasonality were obvious. The import volume was expected to increase with the cooling weather [68]. 5.2 Domestic Supply and Demand - Supply: With high refinery profits, domestic LPG production was expected to remain at a high level, but the external supply volume was not high, and the import volume was also low [72]. - Demand: Based on profit and seasonality, chemical demand decreased while combustion demand increased. The chemical demand in the fourth quarter was better than expected [72]. - Inventory: There was a slight reduction in overall inventory, mainly at the port [73].

液化石油气日报 | 2025-12-03 市场驱动有限，盘面维持震荡运行 市场分析 策略 单边：中性，短期观望为主 跨期：无 跨品种：无 期现：无 期权：无 风险 油价波动、宏观政策、关税政策、港口装船延迟、炼厂装置检修超预期等。 2025年期货市场研究报告 第1页 请仔细阅读本报告最后一页的免责声明 1、\t12月2日地区价格：山东市场，4410-4500；东北市场，4000-4150；华北市场，4250-4470；华东市场，4220-4470； 沿江市场，4600-4980；西北市场，4350-4480；华南市场，4400-4600。（数据来源：卓创资讯） 2、\t2026年1月上半月中国华东冷冻货到岸价格丙烷580美元/吨，跌13美元/吨，丁烷570美元/吨，跌13美元/吨，折 合人民币价格丙烷4520元/吨，跌99元/吨，丁烷4442元/吨，跌99元/吨。（数据来源：卓创资讯） 3、\t2026年1月上半月中国华南冷冻货到岸价格丙烷573美元/吨，跌13美元/吨，丁烷563美元/吨，跌13美元/吨，折 合人民币价格丙烷4466元/吨，跌99元/吨，丁烷4388元/吨，跌99元/吨。（数据来源：卓创资讯 ...

液化石油气日报 | 2025-12-02 CP价格上调，现货端受到提振 市场分析 1、\t12月1日地区价格：山东市场，4400-4500；东北市场，4000-4150；华北市场，4250-4470；华东市场，4220-4450； 沿江市场，4600-4950；西北市场，4350-4400；华南市场，4350-4500。（数据来源：卓创资讯） 2、2025年1月上半月中国华东冷冻货到岸价格丙烷593美元/吨，涨3美元/吨，丁烷583美元/吨，涨13美元/吨，折合 人民币价格丙烷4619元/吨，涨21元/吨，丁烷4541元/吨，涨99元/吨。（数据来源：卓创资讯） 3、\t2025年1月上半月中国华南冷冻货到岸价格丙烷586美元/吨，涨2美元/吨，丁烷576美元/吨，涨12美元/吨，折 合人民币价格丙烷4565元/吨，涨14元/吨，丁烷4487元/吨，涨92元/吨。（数据来源：卓创资讯） 沙特阿美公司12月CP公布，丙、丁烷均较11月上调。丙烷为495美元/吨，较上月涨20美元/吨，丁烷为485美元/吨， 较上月涨25美元/吨。现货方面，受到CP消息提振，昨日多地现货价格上涨，下游多按需采购，卖方库存尚可。供 ...