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SunSirs: China Domestic LNG Market Rose strongly in September
September 29 2022 09:49:51SunSirs(Selena)

According to the data monitoring of SunSirs, the average price of domestic LNG on September 28 was 7,176 RMB/ ton, and the average price of domestic LNG on September 1 was 5,892 RMB/ ton. Domestic LNG prices rose 21.79% this month.

It can be seen from the weekly increase and decrease from July 4, 2022 to September 25, 2022 that the domestic LNG has seen a mutual rise and fall during the cycle, with a large increase this month. The maximum increase in the cycle was 10.25% in the week of September 12, and the maximum decrease was -7.43% in the week of August 22.

According to the data monitored by SunSirs, the average price of domestic LNG on September 28 was 7,176 RMB/ ton, 1,284 RMB/ ton higher than 5,892 RMB/ ton at the beginning of the month, 21.79% higher, 14.09% higher than the same period last year.

In September, the price of domestic LNG market rose in a volatile manner, rising by 21.79% in the month, showing a sharp upward trend. In the first ten days of September, the domestic LNG market fluctuated in a narrow range, and was dominated by consolidation and operation. Before the Mid Autumn Festival, the liquid plant mainly discharged the stock, and the downstream replenishment was active. The average auction price of feed gas directly supplied by PetroChina to the LNG plant was raised. In the middle of September, due to the typhoon and pipeline maintenance, on-site supply decreased and demand increased. The market of liquefied natural gas (LNG) strengthened and the price continued to rise, reaching 11.14% on September 10. The market has good multiple interests, and the atmosphere of rising is strong. The mentality of buying up rather than buying down in the downstream has increased. In late September, the domestic LNG market rose sharply again after the high level fell back. On September 28, the price of LNG rose to the highest value of 7,176 RMB/ ton this month. The downstream replenishment increased before the National Day, the market was warming up again, and the demand side increased significantly, with the rising trend unchanged. As of September 28, 7,000-7,500 RMB/ ton in Inner Mongolia, 7,100-7,400 RMB/ ton in Shaanxi, 7,000-7,500 RMB/ ton in Shanxi, 6,900-7,150 RMB/ ton in Ningxia, 7,500-7,600 RMB/ ton in Hebei and 7,650-7,900 RMB/ ton in Henan.

SunSirs LNG analysts believed that the LNG market in September was volatile and rising, and the overall trend was good. At present, it is near the National Day holiday, and a large number of goods are replenished downstream due to transportation considerations. There was a strong buying atmosphere on the floor, and the rising trend continued. With the maintenance of the Sino Russian pipeline, the on-site supply is reduced. It is expected that China domestic LNG price trend will continue to rise in the short term.


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