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SunSirs: Domestic LNG Market Prices Fell in June
June 29 2022 14:03:52SunSirs(John)

Price trend

According to the data monitoring of SunSirs, on June 28, the average price of domestic LNG was 5,862 RMB/ton, down 10.56% from the price at the beginning of the month at 6,554 RMB/ton, and up 59.87% compared with the same period last year.

Analysis review

In June, the domestic LNG market price fell, down 10.56% in the month, and the center of gravity shifted downward. Beginning in early June, the domestic LNG market price began to drop slightly. Before the Dragon Boat Festival, considering the poor logistics during the holiday, most LNG plants cut prices to destock, and domestic LNG prices continued to decline. Returning after the holiday, with the recovery of logistics, there was a certain demand for replenishment downstream, and the price of liquefied natural gas in some areas had been tentatively increased, and there was still a downward trend in many places. The market was mixed, and the overall was still weak. LNG fell 3.05% in the first half of June. Beginning in the second half of June, LNG fell sharply. Demand for liquefied natural gas was sluggish, and the market was not doing well. The upstream cut prices and destocking, and the market supply exceeded the demand. The continuous price reduction of domestic gas had an impact on imported gas. There was no good news in the market for the time being, and the focus of LNG transactions had declined across the board. LNG fell by 7.86% in the second half of June. As of June 28, the LNG price in Inner Mongolia was 5,700-6,000 RMB/ton, the LNG price in Shaanxi was 5,750-5,900 RMB/ton, the LNG price in Shanxi was 5,750-6,000 RMB/ton, the LNG price in Ningxia was 5,880-5,960 RMB/ton, the LNG price in Hebei was 6,830-7,100 RMB/ton, and the LNG price in Henan was 5,900-6,050 RMB/ton.

According to the weekly rise and fall from April 4, 2022 to June 20, 2022, it can be seen that the domestic LNG cycle rose and fell, and fell more. The largest increase was 3.38% in the week of April 18. It was mainly down in May. The largest decline was -7.62% in the week of June 20.

Market outlook

The LNG analyst of SunSirs believes that the LNG market in June was in the off-season, the demand support was weak, and the domestic LNG price continued to decline. Most of the LNG plants cut prices and destocking, and LNG prices were falling. Near the end of the month, the liquid price rebounded slightly in some areas. Domestic LNG prices are expected to consolidate in the short term.

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