SunSirs: China LPG Market slightly Increased Last Week (November 6-10)
November 13 2023 10:43:41 SunSirs (Selena)
Last week (11.6-11.10), the Shandong LPG market rose steadily. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on November 6th was 5,146 RMB/ton, and on November 11th it was 5,198 RMB/ton, an increase of 1.01% during the cycle, a decrease of 2.48% compared to the same period last year.
Last week, the performance of the Shandong LPG civilian market was strong, with a slight increase. At the beginning of the week, the market performance was average, followed by a rise in the prices of related products such as propane, a widening price difference between LPG and it, and an increase in downstream market entry enthusiasm. At the same time, with a sudden drop in temperature, increasing demand for civilian use, stable demand for chemical products, and controllable inventory in the region, the price of LPG has steadily increased.
Looking at the future market, the current market supply is relatively tight, but propane prices fell in the later part of the week, suppressing downstream market entry enthusiasm. In terms of demand, civilian demand has entered the peak season of combustion, and chemical demand has remained stable. Overall, with the support of favorable demand in the LPG market in the short term, it is expected that market prices will continue to rise.
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