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SunSirs: LNG Market Price Continues to Fall in Peak Season
November 23 2020 10:28:32SunSirs(Selena)

According to the data of SunSirs, on November 19, the average price of domestic LNG was 3,416.67 RMB/ ton, down 2.66% from the previous day, 9.29% from the beginning of the month, 14.27% month on month, and 22.93% lower than the same period last year.

The domestic LNG market entered a downward trend in November, showing a continuous downward trend since the beginning of the month. On November 19, it fell 2.66%, and the price in many places was generally around 50-150 RMB/ ton. Domestic LNG opened a downward channel. In the middle and north of China, the overall heating and raw gas auction are not expected to be favorable. At the same time, due to the emergency response to heavy polluted weather in some areas such as Hebei and Henan, industrial users have reduced production and the demand has continued to decline. In addition, cold air strikes, rain and snow weather affect logistics, and manufacturers' shipment may continue to be under pressure. It is expected that China domestic LNG market will be weak.

On November 19, after the domestic methanol market rose, some manufacturers lowered their ex-factory quotations by about 50 RMB/ ton. In the middle and late November, the market of urea in Shandong Province may rise slightly. The cost of dichloromethane production enterprises is high, the downstream demand is limited, the operating rate of enterprises has declined, the market supply has been reduced, and the market has a strong wait-and-see atmosphere. In the short term, it is expected that the external price of ethylene will mainly rise.

SunSirs LNG analysts believe that: at present, the favorable expectations are insufficient, many places are affected by heavy pollution weather emergency response and other factors, the industrial demand continues to decline, in addition to the cold air attack, rain and snow weather affecting logistics, manufacturers' shipment may continue to be under pressure, and China domestic LNG market is expected to run weakly.

 

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