SunSirs: China LNG Market Fluctuates in June

According to the data monitoring of SunSirs, the average price of domestic LNG on June 28 was 3,666.67 RMB/ ton, up 1.1% from the beginning of this month and 48.65% from the same period last year.

In June, the domestic LNG market fluctuated, with two obvious increases in the middle and the end of the month, but the range was not large, and the trend of the whole month was W-shaped. In June, the off-season demand had a significant impact. The domestic LNG market price continued to decline. In the middle of the month, the logistics recovered, the downstream replenishment and the price of raw gas rose, and the LNG market ushered in a wave of rise. But on June 21, the LNG price quickly returned to the decline. Towards the end of the month, the price of imported LNG rose, boosting the domestic LNG market, adding to the maintenance of LNG plants. The supply side was favorable, and the LNG price rose. On June 28, the price rose by more than 3% in a single day. The manufacturers had a positive attitude towards supporting the price. Under the psychology of buying up but not buying down, the market trading atmosphere improved. With the reduction of bidding in July, the market sentiment was boosted, but the industry's wait-and-see attitude remained unchanged.

On June 28, the domestic LNG market rose in a large area, with 3,450-3,700 RMB/ ton in Inner Mongolia, 3,580-3,720 RMB/ ton in Shaanxi, 3,600-3,770 RMB/ ton in Shanxi, 3,650-3,730 RMB/ ton in Ningxia, 3,800-3,850 RMB/ ton in Henan and 3,670-3,700 RMB/ ton in Hebei.

SunSirs LNG analysts believe that: near the end of the month, the domestic LNG market fluctuated and rose, with the support of supply side and cost side, the price rose. With the favorable bidding in July, the market will be boosted. It is expected that China domestic LNG market will still have a small rise in the short term in the off-season.

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