SunSirs: China LPG Market Fluctuated and Fell Last Week (September 18-22)
September 25 2023 09:54:42 SunSirs (Selena)
Last week, the Shandong LPG market experienced a tumultuous decline. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on September 18th was 5,380 RMB/ton, and on September 22nd it was 5,280 RMB/ton. During the cycle, it fell by 1.86%, a decrease of 5.71% compared to the same period last year.
Last week, the civilian LPG market in Shandong slightly rose and then fell, with mainstream prices in the Shandong region reaching 5,200-5,300 RMB/ton as of Friday. At the beginning of the week, the market was slightly boosted by news support, but downstream follow-up was slow. During the week, the enthusiasm for upstream shipping increased, coupled with an increase in port supply and an increase in supply. In order to stimulate shipping, refinery prices fell. On the demand side, due to the high price of LPG, the profit margin is limited, and downstream equipment construction is not high, resulting in a strong wait-and-see atmosphere.
In the future, as the Double Festival approaches, there is a certain demand for stocking downstream, while the upstream actively reduces inventory, which does not rule out the possibility of reducing prices and arranging inventory.
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