Q4, 2018 Northeast China LPG Prices Hovered at Highs
As seen from the chart above, the civil-use gas and C4R2 prices in Northeast China presented V-shape trends. According to SCI’s statistics, the civil-use gas prices in Northeast China averaged RMB 4,140/mt, RMB 3,982/mt, RMB 4,912/mt and RMB 4,587/mt respectively in Q1, Q2, Q3 and Q4, 2018. Furthermore, the C4R2 prices in Northeast China averaged RMB 4,500/mt, RMB 4,282/mt, RMB 4,871/mt and RMB 4,591/mt respectively in Q1, Q2, Q3 and Q4, 2018.
In Q4, 2018, the civil-use gas and C4R2 prices in Northeast China were moderate, as the international crude oil prices exerted great impacts on the LPG prices. According to SCI’s statistics, the average price of civil-use gas in the Q4 of 2013-2018 was RMB 6,539/mt, RMB 4,793/mt, RMB 3,447/mt, RMB 2,932/mt and RMB 4,587/mt respectively. Besides, that of C4R2 in the Q4 of 2013-2018 was RMB 5,166/mt, RMB 4,609/mt, RMB 3,786/mt, RMB 3,786/mt and RMB 4,591/mt respectively.
As seen from the chart, the LPG price trend in Northeast China was largely the same as that in China, but there was a lag between the price trend in Northeast China and China. In Northeast China, the LPG merchantable volume greatly declined, so the sales pressure on refineries was relatively low. Accordingly, the LPG prices in Northeast China were largely higher than those in China in the same period.
In Q4, 2018, the alkylation units in Northeast China were put into operation intensively, and the LPG merchantable volume greatly declined accordingly. Meanwhile, the demand for LPG remained firm. Therefore, SCI reckons that the LPG prices in Northeast China will continue to be relatively high.
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