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SunSirs: Supply Exceeds Demand, China LNG Price Rises and Falls after Spring Festival
February 26 2021 10:26:51SunSirs(Selena)

According to the data monitoring of SunSirs, the average price of domestic LNG on February 25 was 2,933.33 RMB/ ton, down 0.23% compared with the previous day, up 2.33% compared with last Thursday (February 18), and down 8.05% compared with the same period last year.

In the first week after the Spring Festival, the domestic LNG market rose. But this week, the market ushered in an inflection point, liquid factory shipment pressure, prices began to fall, is now below 3,000 RMB/ ton. The market is oversupplied. Recently, the temperature has picked up. Under the interweaving of long and short, the price of domestic LNG has declined steadily. However, the current price is low, so it is not easy to fall deeply. Most of them fluctuate and consolidate at the range of 50-150 RMB/ ton. It is difficult to be optimistic in the future.

According to the data monitoring of SunSirs, the average price of domestic LNG on February 25 was 2,933.33 RMB/ ton, up 2.33% compared with last Thursday (February 18) and down 8.05% compared with the same period last year. The price of LNG in various places was generally lowered.

On February 25, energy commodities rose more than they fell less. According to the price monitoring of SunSirs, there were 9 commodities in the list of commodity prices on February 25, 2021, among which there was 1 commodity with an increase of more than 5%, accounting for 6.3% of the number of commodities monitored in the sector. The top 3 commodities were asphalt (5.63%), petroleum coke (3.43%) and Brent crude oil (2.64%). There were two kinds of commodities that declined on a month on month basis, and the top two products were thermal coal (-1.81%) and LNG (-0.23%). The average daily rise and fall was 0.89%.

SunSirs nalysts of LNG from business news agency believe that: at present, the market supply is increasingly sufficient, but the demand follow-up is insufficient, and the situation of oversupply is revealed. Moreover, with the recent rise of temperature and the interweaving of long and short, the domestic LNG price has stopped rising and turned to falling. However, the current price is low, so it is not easy to fall deeply, and the narrow range adjustment is the main. It is difficult to be optimistic in the future.

 

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