SunSirs: LPG Market Fell Back after Rising This Week
April 25 2023 09:45:07 SunSirs (John)
Price trend
This week (4.17-4.21), the Shandong LPG market fell back after rising, but overall rose. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market was 5,142 RMB/ton on April 17th, and 5,200 RMB/ton on April 21st. The weekly increase was 0.13%, and a decrease of 18.62% compared to the same period last year.
Analysis review
This week, the Shandong LPG civilian market showed a strong trend. At the beginning of the week, following the weekend's upward trend, the company's shipment was smooth, downstream staged replenishment, prices continued to rise slightly. The highest price during the week rose to 5,260 RMB/ton, an increase of 2.29% compared to the beginning of the week. Subsequently, international oil prices fell, and the trend of related products shifted from up to down, dragging the upward trend of LPG and taking back the gains. As of Friday, the mainstream quotation for Shandong LPG civilian market was 5,150-5,200 RMB/ton.
Market outlook
Overall, the bearish news had clearly constrained the market, while the demand side had limited boost. It is expected that the LPG market will experience a slight decline in the short term.
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