SunSirs: LPG Market Ushered in a Good Start in January
February 02 2023 09:19:22 SunSirs (John)
Price trend
Shandong LPG market rose steadily in January. According to the monitoring of the data of SunSirs, the average price of LPG in the civilian Shandong market was 5,014 RMB/ton on January 1 and 5,864 RMB/ton on January 29. The monthly increase was up to 16.95%, and up 5.85% from the same period last year.
Analysis review
In January, the domestic LPG market ushered in a rising cycle, especially in the Shandong market. During the New Year's Day, the downstream began to actively replenish goods, the upstream pushed up one after another, the downstream demand continued to follow up, and the price difference with the substitute propane widened, further benefiting LPG market. During the Spring Festival, the high market level passed smoothly, and the downstream demand and transport capacity gradually recovered after the festival, but the demand follow-up was relatively slow, and the market experienced a phenomenon of falling from the high level and rising from the low level.
Market outlook
In general, the demand for civil use needs to be improved. After the Spring Festival, the downstream replenishment demand is nearing the end, and the operation of high inventory is maintained. The consumption of inventory is the main factor, and the market entry force is reduced. In the current market, there is resistance from the downstream to the high-priced supply of goods. It is expected that in February, the civil market of Shandong LPG may enter the stage of correction and consolidation.
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