SunSirs: China LPG market fluctuated and fell Last week (February 18-23)
February 27 2024 10:28:21 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the Shandong LPG market experienced a volatile decline last week (2.18-2.23). On February 18th, the average price of LPG in the civilian Shandong market was 4,878 RMB/ton. On February 23rd, the average price was 4,854 RMB/ton, a decrease of 0.49% during the cycle and a decrease of 14.84% compared to the same period last year.
Last week, the civilian LPG market in Shandong operated weakly. After the holiday, due to the impact of the holiday effect in the early stage, upstream sales were not smooth, inventory increased, and prices went down to stimulate sales. Subsequently, due to the impact of rainy and snowy weather, market capacity decreased, and manufacturers faced increased sales pressure. Downstream cautious entry into the market further led to a decline in LPG prices
In the future, downstream demand is gradually recovering, transportation capacity is returning to normal, and chemical demand is expected to increase. The demand for civilian gas is relatively flat, and it is expected that the LPG market will have a strong trend in the short term.
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