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SunSirs: China Domestic LNG Fell 16.45% in October
October 28 2022 14:32:41SunSirs(Selena)

According to the data monitoring of SunSirs, the average price of domestic LNG on October 1 was 6,834 RMB/ ton, and the average price of domestic LNG on October 27 was 5,710 RMB/ ton. Domestic LNG prices fell 16.45% this month.

It can be seen from the weekly rise and fall from August 1, 2022 to October 23, 2022 that the domestic LNG industry has seen a lot of ups and downs during the cycle. 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. There was a large drop in October, with the largest drop of -6.19% in the week of October 10.

According to the data monitored by SunSirs, the average price of domestic LNG on October 27 was 5,710 RMB/ ton, 1,124 RMB/ ton lower than 6,834 RMB/ ton at the beginning of the month, 16.45% lower, 18.85% lower than the same period last year.

The domestic LNG market price fell sharply in October, with a decline of 16.45% in the month. During the National Day, the price of liquefied natural gas was lowered due to transportation obstacles. After the National Day holiday, the transportation of dangerous chemicals returned to normal, and downstream replenishment increased. The price of LNG continued to rise under the favorable situation of demand follow-up. In the middle of October, the domestic LNG price began to fall, and the demand for downstream replenishment decreased. The epidemic situation has a great impact on upstream shipment, and the market has fallen back. As the impact of the domestic epidemic weakened, the traffic began to recover smoothly, and LNG stopped falling and stabilized. In late October, due to the strengthening of epidemic control, poor traffic, sufficient on-site supply and insufficient downstream demand, LNG plants reduced prices, resulting in a strong bearish sentiment in the market. As of October 27, 5,700-6,200 RMB/ ton in Inner Mongolia, 5,890-6,200 RMB/ ton in Shaanxi, 6,000-6,550 RMB/ ton in Shanxi, 6,000 RMB/ ton in Ningxia, 6,200-7,100 RMB/ ton in Hebei and 6,550-6,900 RMB/ ton in Henan.

SunSirs LNG analysts believe that the domestic LNG market fell sharply in October, and the market continued to decline. At present, the market trading and investment are flat, the traffic is blocked under the control of the epidemic situation, and the market supply exceeds the demand. It is expected that China domestic LNG prices will continue to fall mainly in the short term under the negative factors.

 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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