SunSirs: China LPG Market stabilized Last Week (July 3-7)
July 10 2023 09:37:30 SunSIrs (Selena)
Last week (7.3-7.7), the fluctuation in the Shandong LPG market was limited. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on July 3 was 3,860 RMB/ton, and on July 7, the average price was 3,860 RMB/ton. There was no increase or decrease during the cycle, with a decrease of 33.72% compared to the same period last year.
Last week, the weak consolidation and operation of the Shandong LPG civilian market, due to the significant price adjustment over the weekend, returned to a stable market this week. At the beginning of the week, the downstream suppressed the high prices after the rise, and the trading atmosphere weakened, turning to a wait-and-see attitude, resulting in insufficient momentum for the rise of LPG. In the second half of this week, there was a slight drop in LPG prices, with downstream gas purchases slightly increasing and overall trading average.
Overall, the current upstream inventory pressure in the Shandong civilian LPG market is not significant, but it is unlikely to continue to rise due to demand constraints. At the same time, the prices of related products are low, and it is expected that LPG prices will continue to decline in the future.
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