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SunSirs: Falling Demand, China LNG Price Declines
February 10 2021 10:37:42SunSirs(Selena)

According to the data monitoring of SunSirs, the average price of domestic LNG on February 9 was 3,000 RMB/ ton, which was flat compared with the previous day, down 28.29% compared with the beginning of the month, and down 2.91% compared with the same period last year.

In February, the domestic LNG market plummeted. As of February 8, it had been in a continuous decline, with a decline of about 28%. The price of some LNG plants was less than 3,000 RMB/ ton. On February 9, the market decline slowed down, Shaanxi, Shanxi, Henan and other places continued to decline. This week is about to usher in the traditional new year, most of the downstream shutdown. During the spring, the temperature warms up, the logistics is not smooth, and the demand is reduced. At the same time, most liquid plants start up and sell normally, and the contradiction between supply and demand is increasing. The price of liquid may continue to be under pressure. However, due to the cost, the price is not easy to fluctuate greatly, and the overall market is weak and stable.

According to the data monitoring of SunSirs, the average price of domestic LNG on February 9 was 3,000 RMB/ ton, which was flat compared with the previous day, down 28.29% compared with the beginning of the month, and down 2.91% compared with the same period last year. Inner Mongolia 2,800-3,200 RMB/ ton, Shaanxi 2,700-3,150 RMB/ ton, Shanxi 2,950-3,200 RMB/ ton, Ningxia 3,100-3,300 RMB/ ton, Henan 3,200-3,600 RMB/ ton, Sichuan 3,400-3,500 RMB/ ton, the price of LNG is generally reduced.

SunSirs LNG analysts believe that: at present, the support of demand side continues to decline, while the market supply is sufficient, and the liquid plants continue to reduce prices and discharge stocks before the festival to seek benefits. As Chinese traditional New Year is coming, it is difficult to reverse the situation of light market trading, and there is a risk of price reduction. However, due to the cost, it is not easy to fall deeply. It is expected that the market will be stable and weak during the Spring Festival, and wait for the demand side to start after the festival.

 

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