SunSirs: China LPG Market Stopped Falling and Rose Last Week
March 25 2024 11:23:36 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the Shandong LPG market stopped falling and rose last week (3.18-3.22). On March 18th, the average price of LPG in the civilian Shandong market was 4,766 RMB/ton. On March 22nd, the average price was 4,840 RMB/ton, an increase of 1.34% during the cycle and a decrease of 3.08% compared to the same period last year.
Last week, the civilian market price of LPG in Shandong stopped falling and rose. In the early part of the week, the price of LPG dropped to a low level, and downstream restocked on dips, resulting in an increase in trading volume. At the same time, with the rise of national oil prices and the support of various positive factors, the price of LPG has stopped falling and risen. On the demand side, with the warming weather, civilian demand has weakened, chemical demand has increased significantly, and downstream resumption of work demand has increased, supporting the rise in LPG prices.
In the future, the supply side remains stable, while the demand side still has support. It is expected that LPG will slightly increase in the short term.
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- 2024-03-18 SunSirs: China LPG Market Continued to Decline Last Week (March 11-15)
- 2024-03-12 SunSirs: China LPG Market Rose and Fell Last Week (March 4-8)
