SunSirs: China Shandong LPG Market Saw a Broad Increase Last Week (September 4-8)
September 11 2023 09:43:45 SunSirs (Selena)
Last week (9.4-9.8), the Shandong LPG market saw a broad increase. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on September 4th was 5,120 RMB/ton, and on September 8th it was 5,386 RMB/ton, an increase of 5.2% during the cycle and a decrease of 9.17% compared to the same period last year.
Last week, the civilian LPG market in Shandong rose strongly, with mainstream prices in the Shandong region reaching 5,400-5,450 RMB/ton as of the beginning of the week, an increase of 400-450 RMB/ton compared to the previous Friday. In September, the CP surge was introduced, coupled with several consecutive increases in crude oil prices during the week. With strong support from the news, there was also a small amount of inventory on the market, and upstream goods were flowing smoothly. The LPG market was actively pushing up. The demand side is steadily following up, the weather is gradually turning cold, and the demand for civilian combustion is expected to increase. The demand for chemical industry is also following up in a golden and silver atmosphere.
In the future, upstream inventory is controllable, and some downstream companies have shown resistance to high prices. It is expected that in the short term, the LPG market will continue to rise at low levels and consolidate at high levels.
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