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SunSirs: Supply Increase, China Shandong LPG Market Goes Down under Pressure


On January 12th, the civilian market for LPG in Shandong slightly declined, with mainstream prices ranging from 4,600-4,850 RMB/ton. Recently, crude oil has continued to decline, which has suppressed market confidence. Coupled with high port inventory, on-site inventory has accumulated rapidly, upstream goods are not smooth, downstream PDH devices continue to suffer losses, operating at low levels, and demand is weak. Overall, if the market maintains a short period of oversupply, the LPG market will continue to decline.