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SunSirs: Due to the Impact of Imported Gas, China Domestic LNG is Experiencing a Concentrated Increase
April 19 2024 10:56:56SunSirs(Selena)

According to the Commodity Market Analysis System of SunSirs, the price of LNG in China has increased this week. As of April 18th, the average price of LNG in China was 4,050 RMB/ton, which is 3.42% higher than the average price of 3,916 RMB/ton on April 11th.

In terms of supply and demand, since mid April, the domestic LNG market has steadily increased. The maintenance of liquid plant equipment has increased in some regions, resulting in a decrease in the supply of LNG in the market. In the context of tight supply, low liquid prices are starting to push upwards. Downstream restocking enthusiasm has increased, market demand has recovered, and the atmosphere of liquid factory adjustment is obvious.

In terms of cost: Currently, there is not much pressure on upstream inventory, and with controllable liquid levels, the market is actively pushing for price increases. The mentality of price support is more obvious, and transportation is also relatively smooth. The strong cost market provides certain support for LNG.

International aspect: Recently, the spot prices of LNG have significantly increased, mainly due to the decrease in US exports and the suspension of Russian projects, as well as geopolitical factors. Affected by the rise in import gas prices, domestic LNG has followed suit, stimulating an increase in domestic terminal prices. At present, the sea and land prices of LNG are rising together.

According to LNG analysts from SunSirs, the recent surge in imported gas prices has stimulated an increase in the domestic gas market, coupled with favorable support from the supply and demand sides, leading to a concentrated upward trend in domestic LNG prices. In terms of technology, it is also highly likely to run upwards. It is expected that the domestic LNG prices will continue to rise in the short term.


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