SunSirs: China LPG market in Shandong fluctuated and fell Last week (1.15-1.19)
January 22 2024 10:20:55 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the Shandong LPG market fluctuated and fell last week (1.15-119). On January 15th, the average price of LPG in the civilian Shandong market was 4,804 RMB/ton. On January 19th, the average price was 4,774 RMB/ton, a decrease of 0.62% during the cycle, a 19.95% decrease compared to the same period last year.
Last week, the civilian LPG market in Shandong experienced a volatile trend, with an overall slight decline. At the beginning of the week, prices continued their downward trend from the previous week, leading to the release of low-priced goods and easing inventory pressure. As a result, LPG prices stopped falling and rose. With the rise in prices, downstream chemical profits have decreased, leading to a brief rise in LPG prices before falling again.
Looking ahead to the future, as the Spring Festival approaches, downstream investors will enter the market on dips. The demand for civilian use remains at the peak season level, while the demand for chemical products shows a clear resistance to high priced sources. It is expected that the LPG market will be prone to decline but difficult to rise in the short term.
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12.1-1.22
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