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SunSirs: China LNG Rises more than 10% for 7 Days
October 19 2020 10:05:52SunSirs(Selena)

According to the data of SunSirs, on October 15, the average price of China domestic LNG was 2,900 RMB/ ton, up 10.27% compared with that before the festival (October 8), 23.23% month on month, and 22.67% lower than the same period last year.

Analysis of Influencing Factors

Since October, the domestic LNG market has continued to rise, and the strong market continued to this week, with a continuous rise of 10.27% for seven days, with a strong upward momentum. Since October 15, northern cities have entered the winter heating period, regional urban fuel storage has been opened, Shaanxi, Shanxi, Inner Mongolia, Ningxia, Xinjiang and other places have been fully opened up, the price has been increased by 100-250 RMB/ ton, the market trading atmosphere is good, at the same time, the price of the terminal has also increased about 50-200 RMB/ ton, domestic and imported LNG rose at the same time to meet the arrival of the traditional peak season.

On October 10, the benchmark price of feed gas in Northwest China was raised to 1.28 RMB/ m3, and the increase in cost boosted the market upward atmosphere. At present, the on-site supply is relatively abundant, the start-up of the LNG plant is stable, a few enterprises have maintenance plans, and the overall operating rate is slightly increased. The downstream demand improved, the city fuel replenishment was positive, the vehicle demand increased, the gas station sales were good, the industrial demand was improved, the demand side was strong, the business attitude was optimistic, and the driving mood was not reduced.

According to the data monitoring of SunSirs, as of October 15, the average price in Inner Mongolia was around 2,910 RMB/ ton; in Shaanxi, the average price was around 2,880 RMB/ ton; in Shanxi, the average price was around 2,970 RMB/ ton; in Xinjiang, the average price was around 3,270 RMB/ ton; in Ningxia, the average price was around 2,980 RMB/ ton; and the average price in Sichuan was around 2,660 RMB/ ton, the price was temporarily stable. The prices of many places were rising as a whole.

SunSirs LNG analysts believe that: at present, the overall market mentality is good, the peak season is coming, the market demand is increasing, combined with the cost rise and other positive factors, it is expected that China LNG price will continue to rise in the short term.

 

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