3月︱在需求的推动下，工业气体市场整体呈上升趋势，但...

全国工业气体市场3月份全线上扬，液氩（LAr）、液氧（LO2）、液氮（LN2）价格均有上升。

Industrialgases markets rallied broadly in March, liquid argon (LAr), oxygen (LO2) andnitrogen (LN2) prices all moved higher.

随着制造生产活动的缓慢但持续恢复，3月内工业气体消耗需求普遍增加。尽管今年春假之后的反弹回升相比往年要弱一些、慢一些，但3月的恢复力度有所增强。而因有设备故障，个别大型用户需通过外购液体产品补充现场供应的不足，华东部分区域的外销需求一度激增。

As manufacturingproduction activities continue to recover gradually, consumption demand forindustrial gas products expanded in most geographies in March. Whilst demandrecovery came a bit later than in previous years and more restrained this year,it has gathered momentum in March. In a few locations in Eastern China, demandfor merchant products surged also as liquid products from external sources wereacquired to fill on-site supply gaps left by equipment failures.

工业气体生产3月大体稳定，但由于装置跳车，华东一些地方的气体产量在中下旬下降。月内，大多地区的液体产品的库存液位，特别是液氩的液位，明显减少。受此影响，各地的产品供应均有收紧。

Industrialgases production has been steady in many regions in March, but dropped later inparts of Eastern China due to plant trips. Inventory of liquid gas products,especially liquid argon, declined in most places. Consequently, product supplytightened generally.

在需求的推动下，3月份外销市场整体呈上升趋势，但均较为谨慎。在液氩的引领下，各地的液氧、液氮价格亦有提高，华东地区的涨幅明显。

Buoyed byincreased demand, merchant markets strengthened, though often cautiously, in March.Led by liquid argon, liquid oxygen and liquid nitrogen markets advanced in almostall regions, strongly in Eastern China.

市场表现（数据：e-Gas）（至3月29日）：

上海：液氩价格收涨350元/T（50%）至1050/T，但比去年3月末下降了350/T（25%）；液氧上扬350/T（70%）至850/T，同比下跌200/T（19%）；液氮价格上升250/T（50%）至750/T，同比降低150/T（16.7%）。

Marketperformance(data: e-Gas) as of March 29:

Shanghai: liquidargon closed RMB 350/T (50%) higher to 1050/T, representing a drop of 350/T(25%) when compared to at the end of March last year; liquid oxygen added 350/T(70%) to 850/T, or 200/T (19%) lower YoY; and liquid nitrogen advanced 250/T(50%) to 750/T, or 150/T (16.7%) less YoY.

江苏：液氩价格大幅提高500/T（100%）至1000/T，同比下跌300/T（23.1%）；液氧价格提高320/T（66.7%）至800/T，同比减少200/T（20%）；液氮价格上升270/T（77.1%）至620/T，同比下降180/T（22.5%）。

Jiangsu:liquid argon vaulted 500/T (100%) up to 1000/T, or 300/T (23.1%) less YoY;liquid oxygen jumped 320/T (66.7%) to 800/T, 200/T (20%) lower YoY; and liquidnitrogen leapt 270/T (77.1%) to 620/T, or 180/T (22.5%) lower YoY.

浙江：液氩收高300/T（37.5%）至1100/T，同比下跌550/T（33.3%）；液氧价格上升100/T（16.7%）至700/T，同比下降250/T（26.3%）；液氮亦有100/T（20%）的涨幅，收至600/T，但同比减少了250/T（29.4%）。

Zhejiang:liquid argon price rose 300/T (37.5%) to 1100/T, falling 550/T (33.3%) YoY;liquid oxygen added 100/T (16.7%) to 700/T, or 250/T (26.3%) less YoY; andliquid nitrogen also advanced 100/T (20%) to close at 600/T, or 250/T (29.4%)lower YoY.

山东：液氩价格提高100/T（12.5%）至900/T，同比减少200/T（18.2%）；液氧上升300/T（66.7%）至750/T，同比下降150/T（16.7%）；液氮价格仍维持在480/T未变，但相比2018年同期，下滑了320/T（40%）。

Shandong:liquid argon price increased 100/T (12.5%) to 900/T, or 200/T (18.2%) lowerYoY; liquid oxygen surged 300/T (66.7%) to 750/T, or 150/T (16.7%) less YoY;and liquid nitrogen was unchanged at 480/T, but that was 320/T (40%) lower ifcompared to that at the same time in 2018.

华北：液氩上升100/T（16.7%）至700/T，同比减少550/T（44%）；液氧价格上涨200/T（36.4%）至750/T，同比降低了100/T（11.8%）；液氮价格提高50/T（12.5%）至450/T，同比降低了350/T（43.8%）。

NorthernChina: liquid argon edged up 100/T (16.7%) up 700/T, or 550/T (44%) less YoY;liquid oxygen price rose 200/T (36.4%) to 750/T, or 100/T (11.8%) lower YoY;and liquid nitrogen climbed up 50/T (12.5%) to 450/T, or 350/T (43.8%) lessYoY.

e-Gas 预期外销工业气体市场将在4月份继续呈上升趋势。

e-Gas expectmerchant gases markets to strengthen further in April.