SunSirs: On March 18, LPG Market Adjusted within a Narrow Range
March 21 2022 10:57:50 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 6,270.00 RMB/ton on March 17, and the average price on March 18 was 6,230.00 RMB/ton, with a single-day drop of 0.64%. Compared with March 1, the price was down 0.26%.
Analysis review
On the 18th, the domestic LPG market maintained stability on a large scale, with narrow adjustments in some areas. Shandong's civil gas market fell steadily, but not by much. The rise after stopping falling of international crude oil had brought some support to the market, but due to the impact of the epidemic in some parts of the country, the terminal demand had dropped significantly, the downstream market entry was limited, and the price remained weak.
Market outlook
It is expected that domestic LPG will be easy to fall and difficult to rise in the short term.
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