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  • 阿格斯LPG分析服务

    阿格斯LPG分析平台使您能够一键访问阿格斯广泛而可靠的基本面数据。用户可以下载阿格斯的全套液化石油气基本面数据——按季度对2010年到2040年各国的供需情况进行更新。PowerPoint格式的季度市场更新,为用户解读市场发展状况,预测变动趋势。



  • 阿格斯LPG定制咨询服务

    阿格斯提供定制的液化石油气咨询服务。我们的咨询部门基于阿格斯的主要优势--商品市场专业知识、国际网络和可靠的数据--来帮助我们的客户实现机会。咨询团队与企业、贷款人和投资者、政府和监管机构以及专业服务公司合作,提供高质量的市场和技术洞察、分析及评论,满足您的定制研究需求。


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South China’s LPG prices fall on ample supplies

South China's residential LPG prices fell significantly in the first half of May as a result of refineries maximising LPG output and more plants returning from maintenance to capitalise on better margins compared with other oil products.

Wholesale residential LPG prices fell by around 19pc to 2,552 yuan/t ($359/t) over 6-18 May. Refineries raised LPG output during this time as margins have outperformed those of other oil products since mid-April, while a number of plants returned from maintenance. The increase in supply and a drop in residential consumption as warmer weather moves in has forced importers to clear supplies at lower prices.


Argus' recently launched south China wholesale price for propane-butane mix, the Argus Pearl River Delta Index, was assessed at Yn2,552/t on 18 May, down by Yn589/t from 6 May. The index represents the weighted-average price of six key import terminals in the Pearl River Delta region of Guangdong province — Jovo Energy's in Dongguan, Chinagas' in Nansha, Sinobenny's in Dapeng, and New Ocean's, Siamgas' and CNOOC's facilities in Gaolan.

Guangdong is the major hub of China's residential LPG demand, accounting for around a quarter of the total 22.8mn t in 2019, up from 21.7mn t in 2018, data from state-controlled Sinopec show. The bulk of such use in Guangdong is met through imports of propane-butane mix at seven major terminals, with receipts at these facilities reaching around 6mn t in 2019 — some of which heads to petrochemical producers or other provinces.

Local refineries supply 1.2mn-1.3mn t/yr of LPG to Guangdong's residential sector, a south Chinese refiner says. Overall supplies for residential use in south China have increased by 4,000-4,100 t/d (1.46mn-1.49mn t/yr)since late April, mostly from major refineries in Guangdong, Guangxi and Fujian provinces.

Sinopec's 470,000 b/d Maoming refinery in Guangdong has been supplying 2,400-2,500 t/d of LPG since mid-April, almost triple its previous output of propane and butane. And the firm's joint-venture Maoming petrochemical plant with Germany's BASF has been shut down since mid-April owing to weak demand, freeing up around 1,000 t/d of LPG.

Regional refinery supplies of LPG have been bolstered by petrochemical producers switching feedstock to cheaper naphtha, forcing refiners to offer to residential buyers at lower prices. Sinopec set its May settlement price for naphtha at Yn1,370/t, down by Yn1,700/t from April. And state-controlled PetroChina set its equivalent at Yn1,000/t, down by Yn1,315/t from April.

LPG supplies from refineries in nearby Guangxi province have also increased as capacity has been ramped up.PetroChina's 200,000 b/d Qinzhou refinery restarted at the end of April after a two-month maintenance shutdown. The refinery has supplied around 1,000 t/d of residential LPG since.

Petchem resales

Sinopec's 100,000 b/d Beihai refinery is expected to start up this week following a two-month maintenance shutdown, which will add another 200-300 t/d of LPG to the market. And the company's 240,000 b/d Fujian plant in the southeastern Fujian province, a joint venture with ExxonMobil and state-owned Saudi Aramco, switched to run fully on naphtha at the end of April, releasing 200-300 t/d of imported LPG onto the residential market.

Chinese petrochemical firm Fujian Meide is selling 44,000t of propane it bought at the end of April, due to arrive in late May, for its planned 660,000 t/yr propane dehydrogenation plant in Fuqing, Fujian province. Technical problems could delay the facility's start-up, originally due in the second quarter. Fujian Meide has sold 800-900 t/d of propane to the residential market since late April.

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Argus LPG Market Services

Argus International LPG

Daily price and news coverage of propane, butane and naphtha markets. This reports provides access to key LPG industry price assessments like, Argus North Sea Index (ANSI), cif ARA large cargo assessments for propane and butane, daf Brest prices, Argus Far East Index (AFEI) and Argus Pearl River Delta Index. This report also has the listing of monthly Saudi Aramco contract price (CP). 
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Argus LPG World

A leading source of expert insight with extensive coverage, from industry and company news and trading and inventory information to LPG shipping information and monthly prices. It includes an in-depth analytical features on market trends, insightful editorials, annual LPG storage and shipping surveys, regional import, export, supply and demand data

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Argus LPG Outlook

A monthly service that forecasts key LPG prices up to two years into the future. Markets covered in this report includes -  US: Mont Belvieu propane and butane, and US Gulf coast export propane - Europe: Cif ARA propane and butane, cif Lavera butane and daf Brest propane - Middle East: Saudi propane and butane contract prices (CPs) - Asia: Cfr Japan propane and butane

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Argus LPG Consulting

Argus offers bespoke LPG consulting services. Our consulting division builds on Argus’ key strengths – commodity markets expertise, international networks and trusted data – to help our clients realise opportunities. The team works with corporates, lenders and investors, governments and regulatory bodies as well as professional service firms, offering tailor-made research to those seeking the highest quality market and technical insight, analysis and commentary. Learn about our consulting projects for the LPG market in our brochure. 


Click to download the LPG consulting credentials

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53
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to go
 +44 (0) 20 7780 4341

06 April - 07 April 2020
Amsterdam, The Netherlands

Argus Global Gasoline Conference

 
06 April - 07 April 2020
 
Amsterdam, The Netherlands

Argus Global Gasoline Conference

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