Huatai Futures: Liquefied Petroleum Gas Landed Prices Decline, Domestic Spot Prices Show Mixed Movement

Hot Topics

Selected Stocks Data Center Market Center Capital Flows Simulated Trading

Client

Source: Huatai Futures

Author: Kang Yuanning

Market Analysis

1. Regional Prices on March 25: Shandong Market: 6380–6500; Northeast Market: 5620–6010; North China Market: 6200–6450; East China Market: 6700–7350; Yangtze River Delta Market: 6840–6960; Northwest Market: 5700–6015; South China Market: 7100–7300. Data source: Zhuochuang Information

2. In the second half of April 2026, China East China frozen cargo landing prices: Propane: $980/ton, down $100/ton; Butane: $980/ton, down $100/ton; Converted to RMB: Propane: 7,435 RMB/ton, down 762 RMB; Butane: 7,435 RMB/ton, down 762 RMB. (Data source: Zhuochuang Information)

3. In the second half of April 2026, China South China frozen cargo landing prices: Propane: $980/ton, down $100/ton; Butane: $980/ton, down $100/ton; Converted to RMB: Propane: 7,435 RMB/ton, down 762 RMB; Butane: 7,435 RMB/ton, down 762 RMB. (Data source: Zhuochuang Information)

As the Middle East situation shows signs of marginal easing, international crude oil and LPG prices have declined, causing PG prices to retreat from high levels. Spot prices across China yesterday varied, with some regions seeing increases and others decreases. Notably, mainstream transaction prices for civilian liquefied petroleum gas and ether-based C4 in Shandong were lower than the previous working day. The easing of Middle East tensions and external market trends influenced manufacturers to offer discounts to sell more. Despite significant pullbacks in both domestic and international markets, the Iran situation remains uncertain, the Strait of Hormuz has not yet resumed navigation, and news remains volatile. In such a high-volatility environment, both longs and shorts lack safety margins, so caution is advised.

Strategy

Unilateral: Short-term intense fluctuations, mainly observe for now

Calendar Spreads: None

Cross-Commodity Spreads: None

Futures and Spot: None

Options: None

Risks

Geopolitical conflicts, oil price fluctuations, macro policies, tariff policies, port shipping delays, refinery maintenance exceeding expectations, etc.

Investment Consulting Qualification: Securities Permit [2011] No. 1289

Disclaimer:

This report is prepared based on information deemed reliable and publicly available by our company, but we do not guarantee its accuracy or completeness. The opinions, conclusions, and forecasts in this report only reflect the views and judgments as of the date of publication. At different times, our company may issue research reports that differ from the opinions, assessments, and forecasts contained herein. We do not guarantee that the information in this report remains up-to-date. We reserve the right to modify the information without notice. Investors should pay attention to updates or revisions independently. We strive for objectivity and fairness in the report, but the opinions, conclusions, and recommendations are for reference only. Investors should not rely solely on this report to exercise independent judgment. We and the authors are not responsible for any consequences resulting from reliance on or use of this report. The copyright of this report belongs solely to our company. No organization or individual may reproduce, copy, publish, quote, or redistribute in any form without our written permission. If quoting or publishing with our consent, it must be within permitted scope, and the source must be stated as “Huatai Futures Research Institute,” without misrepresenting, editing, or modifying the original intent. We reserve the right to pursue legal responsibility. All trademarks, service marks, and logos used in this report are our company’s trademarks and service marks. Huatai Futures Co., Ltd. owns all rights.

Open Futures Account with Huatai — Professional and Trustworthy

Massive Information, Precise Analysis, All on Sina Finance APP

Editor: Zhu Henan