According to the commodity market analysis system of SunSirs, the Shandong LPG market continued to rise last week (5.20-5.24). On May 20th, the average price of LPG in the civilian market in Shandong was 5,094 RMB/ton, and on May 24th, the average price was 5,154 RMB/ton, an increase of 1.18% during the cycle, an increase of 22.71% compared to the same period last year.

Last week, the trend of the civilian LPG market in Shandong was still good, with refineries slightly pushing up prices and a good market atmosphere. From the supply side perspective, Shandong Jincheng has stopped production, and the supply side has slightly tightened. On the demand side, combustion demand is in the off-season, with a significant increase in chemical demand, driving up LPG prices.

In the future, there is not much change in the supply side. With the rise of LPG prices, downstream resistance has increased, and the price difference between related products propane and LPG has widened, which may support the storage of LPG. It is expected that LPG will remain stagnant and operate in the short term.

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