SunSirs: The Temperature Was Changeable, and the Domestic LNG (LNG) Fell Back after Rising (February 13-17)
February 22 2023 10:56:11 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of February 17, the average price of LNG in China was 5,902 RMB/ton, up 3.11% compared with the average price of 5,724 RMB/ton on February 13.
Analysis review
This week, the domestic LNG price rose and then fell. At the beginning of the week, due to the impact of cold air, the downstream replenishment demand increased, and the price of LNG began to rise. With the gradual weakening of cold air, the price of LNG began to stabilize and callback, and the price in Inner Mongolia fell slightly. The domestic temperature warmed, and the market trading atmosphere had weakened.
At 14:00-14:30 on February 17, PetroChina's LNG plant, which is mainly supplied to Shaanxi, Inner Mongolia, Gansu and Ningxia, conducted a bidding for feed gas from February 21 to 28, 2023. The bidding volume was 24 million cubic meters, the starting price was 3.68 RMB/cubic meter, and the top price was 7.7 RMB/cubic meter. All transactions were concluded, and there was no flow bidding. The transaction price was 3.82-3.97 RMB/cubic meter, with an average increase of 0.355 RMB/cubic meter compared with the previous period.
Market outlook
LNG analysts from SunSirs believe that the domestic price of LNG had fallen recently due to the warming of domestic temperature and the weakening of downstream replenishment demand. On Friday, the bidding price of raw gas was raised, and the cost support was favorable. It is expected that the domestic LNG price will rise in the short term.
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