SunSirs: Demand Weakened, and LNG Prices Fell Back After Rise (February 17-23)
February 24 2023 09:57:53 SunSirs (John )
Price trend
According to the data of SunSirs, as of February 23, the average price of liquefied natural gas in China was 5,982 RMB/ton, up 1.36% from the average price of 5,902 RMB/ton on February 1.
Analysis review
This week, the domestic LNG price rose and then fell. Due to the increase in feed gas price on last Friday, the domestic LNG price began to rise under the cost boost. Since Tuesday, with the gradual warming of domestic temperature, the terminal demand weakened, the market was unable to rise, and the domestic LNG price began to fall. The market supply was obviously in excess of demand, and most LNG plants sold at reduced prices. In terms of imported liquefied natural gas, the LNG price of the terminal was down.
Market outlook
Liquefied natural gas analysts from SunSirs believe that the domestic LNG price fell recently due to the weakening of downstream replenishment demand and the poor domestic trading atmosphere. In the absence of positive market conditions, domestic LNG prices are expected to continue to decline in the short term.
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