On December 26th, Shandong Huifeng Petrochemical Co., Ltd. lowered its latest LPG quotation by 30 RMB/ton to 4,520 RMB/ton.
On December 26th, Qingdao Refining and Chemical's civilian LPG was reduced by 50 RMB/ton to 4,300 RMB/ton, and the unit started operating normally, with a daily production of about 1,000 tons and controllable inventory.
This indicates that the market supply is abundant or demand is weak, which has a negative impact on spot prices. Based on the recent market trend of liquefied petroleum gas futures contracts (such as the closing price of 2605 contract at 4,088 RMB/ton, up and down +36), this adjustment may lead to a weakening of futures market sentiment, increase selling pressure, and is expected to cause short-term downward pressure on futures prices.
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