Last week (8.7-8.11), the Shandong LPG market saw a sharp rise. According to the Commodity Market Analysis System of SunSirs, the average price of LPG in the civilian Shandong market on August 7th was 4,604 RMB/ton, and on August 11th it was 4,910 RMB/ton. This period saw an increase of 6.65% and a decrease of 11.63% compared to the same period last year.
Last week, the civilian LPG market in Shandong continued its upward trend, with a broad rise. At the beginning of the week, boosted by international oil prices, the price of LPG began to rise. In addition, there have been relatively few port cargo sources recently, and there has been a smooth flow of goods on the market. Enterprise inventory is low, and downstream buyers have entered the market, resulting in a continuous increase in LPG prices. Over the weekend, the LPG market rose at a low level, maintained stability at a high level, and downstream restocking came to an end, leading to a decreasing trend in demand.
In the future, downstream restocking may enter the digestion stage, with expectations of reduced demand. However, with the continuous rise of related propane, the price difference still exists, and it is expected that there is still room for improvement in the civilian LPG market in the future.
