Last week, China's liquefied propane and butane comprehensive import CIF index was 144.69 points and 140.11 points.

　　On July 6, the China liquefied petroleum gas (LPG) comprehensive import CIF index released by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and the Shanghai Petroleum and Natural Gas Trading Center showed that from June 27 to July 3, China's liquefied propane comprehensive The CIF import price index was 144.
69 points, down 3.
57% month-on-month and up 30.
96% year-on-year; China's comprehensive import CIF price index for liquefied butane was 140.
11 points, down 2.
98% month-on-month and up 30.
64% year-on-year
.

　　In terms of international pricing benchmarks, Saudi Aramco released the CP in July 2022; the propane contract price (CP) in July was US$725/ton, down US$25/ton from the previous month, down 3.
33% month-on-month and up 16.
94% compared with the same period last year; The butane contract price (CP) in July was US$725/ton, down by US$25/ton from the previous month, down 3.
33% from the previous month and up 16.
94% from the same period last year; Saudi CP was slightly lowered in July, but still at a relatively high level in recent years ; The boosting force on the international and domestic LPG market has slowed down slightly, but there is still strong support
.

　　In terms of international prices, the international price of LPG has a high positive correlation with the price of crude oil
.
As of the close of last Friday (July 1), the main WTI crude oil futures contract was at $108.
43 per barrel, up 0.
75% from the previous week; the main Brent crude oil futures contract was at $111.
63 per barrel, down 1.
32% from the previous week
.
The recent sideways movement of international oil prices has supported international and domestic LPG prices to a certain extent
.
Due to the trade pricing cycle, China's LPG import CIF price often lags behind the international market futures price and spot price for a period of time
.

　　In the domestic market, the supply side is stable, the demand side is weak, and the market trading atmosphere is general
.
On the whole, the amount of resources arriving in Hong Kong decreased slightly last week, the domestic gas volume increased slightly from the previous week, and the overall supply of the market remained stable; in the summer, the continuous super high temperature could not boost the demand for civil fuel combustion; The performance improved slightly, the demand for propane rose slightly, the demand for butane remained stable, and the overall downstream demand was still relatively weak
.

　　The compilation of China's LPG comprehensive import CIF index is completed by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and the Shanghai Petroleum and Natural Gas Exchange Center.
/ ton, the price index is 100; the comprehensive import CIF price of China's liquefied butane this week is 3535 yuan / ton, the price index is 100), which comprehensively reflects the CIF price level of China's LPG imports last week
.

From: Shanghai Securities News China Securities Network