SunSirs: China LPG Market steadily Rose Last Week (July 17-21)
July 24 2023 09:33:13 SunSirs (Selena)
Last week (July 17- July 21), the Shandong LPG market steadily rose. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on July 17 was 3,906 RMB/ton, and on July 21, the average price was 3,960 RMB/ton, an increase of 1.38% during the cycle and a decrease of 31.35% compared to the same period last year.
Last week, the civilian LPG market in Shandong steadily rose. From a supply perspective, other factories have reduced production, but the overall change is not significant. On the demand side, due to high temperatures, civilian demand is still in the off-season. However, due to the positive market push, downstream purchasing willingness is strong. The market has repeatedly pushed up slightly, and prices have returned to a stable state over the weekend, with digestion and consolidation running.
Overall, the current upstream inventory pressure in the Shandong civilian LPG market is not significant, and the prices of related propane products continue to rise, further supporting market confidence. It is expected that the LPG market will stabilize and operate in the short term, with some low market prices mainly rising.
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