SunSirs: China Shandong LPG Market fell first and then rose Last Week (August 21-25)
August 29 2023 09:51:28 SunSirs (Selena)
Last week (August 21- August 25), the Shandong LPG market first fell and then rose. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on August 21 was 4,832 RMB/ton, and on August 25, the average price was 4,910 RMB/ton, an increase of 1.61% during the cycle, a decrease of 13.95% compared to the same period last year.
Last week, the Shandong LPG civilian market fell first and then rose. At the beginning of the week, due to the rise of LPG prices to a high level, downstream enthusiasm for receiving goods weakened, and the trading atmosphere weakened. Subsequently, upstream prices were lowered for shipment, and downstream bargains were entered. The market atmosphere improved, and LPG prices rebounded. In terms of demand, the demand for chemical products is relatively strong, while the demand for civilian use is mainly to maintain a rigid demand.
In the future, downstream demand is steadily following up, and on-site inventory is not high. It is expected that LPG will slightly increase in the short term.
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