Last week (11.20-11.24), the Shandong LPG market slightly declined. According to the commodity market analysis system of Shengyishe, the average price of LPG in the civilian Shandong market was 5,264 RMB/ton on November 20th, and 5,240 RMB/ton on November 24th, an increase of 0.46% during the cycle and a decrease of 2.2% compared to the same period last year.

Last week, the civilian LPG market in Shandong stabilized first and then fell, greatly affected by the demand side. At the beginning of the week, due to severe losses in downstream PDH units, production decreased, and demand support gradually weakened. The market began to be supported by low supply, and under the supply-demand game, the demand side dominated, leading to a downward shift in the center of gravity of LPG in the second half of the week. As of Friday, the mainstream price of LPG in the civilian market in Shandong is 5,200-5,250 RMB/ton.

In the future, the current tight supply situation in the market has been alleviated, with a decrease in temperature and an expected increase in civilian demand. However, the demand for chemical products is insufficient, and it is expected that the possibility of a narrow downward trend in the LPG market will increase in the short term.

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