SunSirs: Demand Was Weak and LPG Was Lower in Shock
March 13 2023 10:31:36 SunSirs (John)
Price trend
This week (3.6-3.10), Shandong LPG market was weak and down. According to the monitoring of the data of SunSirs, the average price of LPG in the civilian Shandong market was 5,690 RMB/ton on March 6 and 5,614 RMB/ton on March 10, with a decrease of 1.34% in the week and down 21.37% year-on-year.
Analysis review
This week, the civil market of LPG in Shandong rebounded slightly after falling, and the overall price fell. This week, the supply was stable, the refinery production was stable, and the Shandong market was impacted by low prices from other places, and the on-site inventory was rising. The overall transaction atmosphere of the demand-side market was general, and the downstream was bargain-hunting. The demand for civil use was in the off-season, and the demand for chemical industry was still acceptable.
Market outlook
In general, after the price reduction, the upstream shipping situation had improved, but the civil market demand was weak and difficult to change. It is expected that the civil LPG market in Shandong will operate to be weaker in shock in the short term.
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- 2024-03-18 SunSirs: China LPG Market Continued to Decline Last Week (March 11-15)
- 2024-03-12 SunSirs: China LPG Market Rose and Fell Last Week (March 4-8)
