SunSirs: China LPG Market Experienced a Slight Decline Last Week
December 11 2023 10:11:52 SunSirs (Selena)
Last week (12.4-12.8), the Shandong LPG market slightly declined. According to the commodity market analysis system of SunSirs, the average price of LPG in the civilian Shandong market was 5,230 RMB/ton on December 4th, and 5,192 RMB/ton on December 8th, a decrease of 0.73% during the cycle and a decrease of 0.99% compared to the same period last year.
Last week, the civilian LPG market in Shandong showed a downward trend. During the week, crude oil prices continued to decline, coupled with weak declines in related products such as propane. The bearish news suppressed the market sentiment, and downstream entry enthusiasm was weak. In terms of supply, upstream production is relatively stable, but there is a concentrated supply of goods at the port, resulting in overall loose supply. As of Friday, the mainstream price of LPG in the civilian market in Shandong is 5,200-5,250 RMB/ton.
In the future, the current supply of goods needs to be further digested. Next week, the northern region will experience a cooling down, and civilian demand is expected to increase. At the same time, the demand for chemical products will remain stable. It is expected that the possibility of a slight rebound in the Shandong LPG market will increase in the short term.
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