In March, affected by the irrational decline of international crude oil, the price of the gas market as a whole fell, and the market never recovered. In March, the decline of LPG was 26.85%, that of liquefied propane was 26.7%, and that of dimethyl ether was 14.87%. However, liquefied natural gas (LNG) was the only red spot in the collective decline of the gas market, with an overall increase of 7.42% in March.
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After two consecutive months of decline in LNG market, it was finally clear that the downstream resumption rate was significantly increased in March, the demand for liquefied natural gas recovered, and the price rebounded. On the one hand, the opening of domestic transportation bottlenecks has cleared the obstacles for the LNG market, and the LNG shipment has gradually increased. What’s more, with most of the downstream manufacturers returning to work, the demand has increased, providing support for the price of liquefied natural gas, the price pushing psychology of the manufacturers is obvious, the domestic liquefied natural gas market continues to rise, and the rising trend starts to slow down in the middle of the year. In the middle and late ten days, urban pipeline gas replenishment continued to decrease, demand growth slowed down, LNG began to callback, prices fell, erasing some of the previous gains.
In the later stage, the Business Association believes that in April, the heating in the northern region began to end one after another. As the heating demand in the downstream of natural gas gradually decreased, China’s LNG market gradually entered the off-season. In addition, at present, the import gas has been making profits continuously, which has impacted the domestic LNG market. The pressure of liquid factory’s delivery is large, and the inventory is on the high side. It is expected that LNG will still have a downward trend in the short term.
In March, the domestic liquefied gas (Shandong) market was greatly affected by the crude oil slump, mainly following the decline. At the beginning of the month, the average price of the domestic liquefied gas market was 3700 yuan / ton, and at the end of the month, the average price was 2706.67 yuan / ton, with a drop of 26.85% in the price within the month, 32.28% lower than the same period last year. At the beginning of the month, although the CP price fell in March, it fell less than expected, which brought certain benefits to the market. Coupled with the rebound of international crude oil, downstream market access improved, manufacturers shipped smoothly, and prices rose slightly. But then crude oil plummeted, and the market was in a bad mood. The downstream markets withdrew one after another to wait and see. In the middle of the month, crude oil plummeted again, hitting the market obviously, manufacturers kept making profits, and the shipment situation slightly improved. Then, with the retaliatory rebound of crude oil and the growth of market demand, the LPG market ushered in the rising market again. However, the positive results are limited. At the end of the month, with the crude oil exploring again, and under the influence of the sharp fall of CP price expectation in April, liquefied gas turned back to the downward trend again. At present, although the terminal demand has improved, it has not fully recovered, and the contradiction between market supply and demand is still in progress. However, at present, liquefied gas has fallen to a relatively low level, and manufacturers have an obvious mentality of protecting the market. The trend in April may be expected to rise.
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As a pure product, liquefied propane continued to decline in March. At the beginning of the month, the average price of propane market was 3717.5 yuan / ton, and at the end of the month, the average price was 2725 yuan / ton, with a drop of 26.7% in the month. The price was 35.08% lower than that of the same period last year. The main reason for the decline is due to the impact of crude oil, and the expectation of CP in April keeps falling, which continuously depresses the mentality of the industry. The later shipment situation of the manufacturer is light, and the price is constantly lowered to make profits. But during this period, the downstream continued to wait and see, with a more cautious attitude. At present, affected by seasonal factors, with the gradual warming of the weather, the propane market demand is expected to decrease. But at present, the price has been at a low level, and there is little room to fall. The propane market is expected to rise to a certain extent in April.
Dimethyl ether is a kind of coal chemical raw material, flammable gas, which is a new type of energy converted from coal. Now it is mostly used for mixing liquefied gas. In March, the market of dimethyl ether continued to bottom out, during which it rebounded twice, but the momentum was insufficient, and the overall market still fell. At the beginning of the month, the average price of domestic DME market was 3003.33 yuan / ton, and at the end of the month, the average price was 2556.67 yuan / ton, with a drop of 14.87% in the month, 24.36% lower than the same period last year. In March, the operating rate of dimethyl ether was about 10%, and the market trading atmosphere remained depressed, which was hard to change. The international crude oil fell sharply this month, which significantly depressed the liquefied gas market. Although the demand for civil gas increased this month, the range was relatively limited, mainly following the broad decline of crude oil. However, there is no difference in the price of gas ether, and the demand for dimethyl ether decreases. The market of cost methanol continued to decline in March. Affected by the emergency safety events, the downstream demand of domestic methanol spot market recovered slowly, especially the traditional downstream market. However, after the middle of March, the impact of the development of foreign public health events, the continuous drop of foreign financial market triggered the circuit breaker, the pressure of the surrounding environment, the wide drop of methanol, and many new lows in the year. Some regional production enterprises have touched the new low And production lines or losses. Affected by the weakness of civil gas and cost methanol, the market of dimethyl ether rebounded twice this month, and it was difficult to reverse the situation and continue the decline. It is expected that if the LPG market rises significantly in April, it will give a boost to the DME market.
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