SunSirs: China LPG Market Continued to Decline Last Week (March 11-15)
March 18 2024 14:07:51 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the Shandong LPG market fluctuated and fell last week (3.11-3.15). On March 11th, the average price of LPG in the civilian Shandong market was 4,822 RMB/ton, and on March 15th, the average price was 4,756 RMB/ton, a decrease of 1.37% during the cycle and a decrease of 12.02% compared to the same period last year.
Last week, the price center of the civilian LPG market in Shandong continued to shift downwards. On the demand side, the demand in the civilian market remains stable. The chemical market has been affected by downstream shutdowns, resulting in a significant decrease in demand. Constrained by the demand side, the market has been weak and falling this week. On Friday, due to the widening gap between market prices and surrounding prices, some users entered the market on dips, resulting in a slight rebound in prices.
In the future, the current LPG market is significantly constrained by demand. In terms of civilian combustion, there is an expectation of a decrease due to the warming weather, and the supply side remains stable. It is expected that the LPG market will be weak and downward in the event of sufficient supply and reduced demand.
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