According to the Commodity Market Analysis System of SunSirs, as of January 30th, the average price of LNG in China was 5,664 RMB/ton, which is 5,510 RMB/ton higher than the average price on January 1st. The increase in domestic LNG prices this month was 2.79%.
In January, domestic LNG prices first fell and then rose. In mid to early January, domestic LNG prices fell. After New Year's Day, there are many heavy vehicles in the market, and downstream delivery capacity is limited. Environmental protection control has been strengthened in some regions, industrial demand has weakened, and liquid factories have lowered prices to digest inventory, hindering the upward trend of the market. Market trading is poor, with a strong bearish sentiment. The significant drop in import prices has a negative impact on the domestic market situation. In late January, domestic LNG prices increased. Affected by the cooling weather in many parts of China, the demand for downstream replenishment has increased, leading to a significant increase in market prices and a continuous rise in liquid prices. On the afternoon of January 30th, during the first week of February (from January 31st to February 7th), the bidding price for raw gas at PetroChina Northwest Liquid Plant was 2.88 RMB/cubic meter, which remained unchanged from the previous low price. The high price was reduced by 0.01 RMB/cubic meter, with 66.3 million cubic meters sold and 900,000 cubic meters unsold.
In January, domestic LNG prices fluctuated, with the largest increase in January being 12.13% in the week of January 22 and the largest decrease in January being -8.32% in the week of January 15.
LNG analysts from SunSirs believe that in recent days, the domestic weather has cooled significantly, and liquid prices have continued to rise. It is expected that snowfall in Northeast China is approaching today, and the bidding price of raw gas will be slightly adjusted today. It is expected that there is still room for domestic LNG prices to rise, with limited growth.
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