China: Supply glut weighs on LPG prices in Shandong

Chemical News: China: Supply glut weighs on LPG prices in Shandong

https://www.chemnet.com Jul 29,2010
LPG wholesale prices were pressured by excessive supply in Shandong Province, as availability was rising with some local refineries back into operation from mid-July, C1's survey found.

LPG supply from Shandong independent refineries totaled 8,220mt a day on Jul 28, up 8.3% from Jul 15.

However, the prices still accumulated rises of not more than Yuan 100/mt in the period, tracking Yuan 200/mt of gains in East and South China, according to refinery sources.

The prices may reap impetus from likely more demand from neighboring Jiangsu market mid-August, when Yangzi Petrochemical and Qingjiang Petrochemical there would go into overall turnarounds, market sources expected.
LPG wholesale prices surged in East and South China since mid-July, partly supported by provisional unit maintenances of some major refineries.

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