CITIC Futures: Domestic fundamentals weaken, Iran situation dominates LPG trends

In the overseas market, Longzhong Information reports that Saudi Juaymah NGL shipment plans were canceled from March 1 to 24 due to an accident. The overseas market is experiencing additional support as demand seasonally weakens, with Saudi March CP remaining flat compared to February. Short-term, the Iran situation will dominate price fluctuations. According to Kpler data, by 2025, 23.4% of global NGL sea transportation will pass through the Strait of Hormuz.

In the domestic market, port inventories have increased slightly, and high utilization rates at major refineries have led to continuous rises in liquefied gas exports. PDH operating rates have not shown impressive performance, and the fundamentals are currently weak. (CITIC Futures)

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