The short-term LPG market will show a volatile finish

According to data from the National Bureau of Statistics, as of late May, the national liquefied gas LPG market price was 2634.
3 yuan / ton, down 150.
5 yuan / ton from the previous month; The national LNG market price was 2621.
5 yuan / ton, down 192.
3 yuan / ton from the previous month; The difference between the market price of LPG and LNG is 12.
8 yuan/ton
.

OPEC+ extended its 9.
7 million b/d production cut until July, while US crude oil inventories rose to a high level, and fears of a second outbreak of the new crown epidemic pushed up risk aversion, and international crude oil prices retreated; East China's liquefied gas market first rose and then declined, docks to ships increased, manufacturers' inventory pressure increased, and terminal consumption was relatively slow
.

After the rebound in the South China market, it fell again, the price of the terminal rose continuously in the first half of the week, and the refinery also cooperated with the rise, and the high decline of the terminal in the second half of the week drove the refinery downward, and the downstream inventory high receiving capacity was limited; Propane and butane CFR prices in South China fell from last week, and Saudi Arabia's July CP forecast also fell
.

The pullback in crude oil affected the market atmosphere, while the demand slowed down in the off-season, the overall supply was abundant, and the profit of port imported gas was inverted, and the futures premium declined, which supported the futures price; In terms of the top 20 positions, PG2011 contracts reduced their positions, the reduction rate of long orders was higher than that of short orders, and the net long positions declined, and the short-term LPG market showed a volatile finishing trend
.