According to the commodity market analysis system of SunSirs, the Shandong LPG market rose and then fell last week (3.4-3.8). On March 4th, the average price of LPG in the civilian Shandong market was 4,900 RMB/ton, and on March 8th, the average price was 4,850 RMB/ton, a decrease of 1.02% during the cycle and a decrease of 13.39% compared to the same period last year.

Last week, the civilian LPG market in Shandong turned from strong to weak. Strong support from chemical demand in the early part of the week, with prices starting at a high level. Subsequently, downstream factories unexpectedly shut down, resulting in a significant decrease in demand. On site supply shifted from tight to loose, and downstream resistance to high prices was evident. LPG prices were under pressure and declined. On the demand side, there is little fluctuation in the demand for civilian combustion, while the demand for chemical industry has significantly decreased.

In the future, the current LPG market is significantly constrained by demand, with high external prices. It is expected that there is limited room for further downward adjustment of LPG, and it is unlikely that chemical demand will continue to decrease. It is expected that the LPG market will fluctuate strongly this week.

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