SunSirs: Domestic LNG Rebounded after Continuous Decline (May 4-11)
May 12 2023 13:47:24 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 11th, the average price of LNG in China was 3,988 RMB/ton, and the price was 4398 on May 4th. This week, the price of LNG in China was decreased by 9.32%.
Analysis review
This week, domestic LNG prices rebounder to rise after continuous decline. After the May Day holiday, there was an oversupply in the market, trading on the market was weak, LNG plants had strong willingness to destock their inventories, and the price of LNG declined. In terms of imported LNG, some receiving stations had lowered their prices. On the afternoon of May 9th, PetroChina Northwest Liquid Plant bade for raw gas prices in mid May (May 11-20). The starting price is 2.08 RMB/square meter, and the transaction volume is 2.19-2.36 RMB/square meter. The low end wa s reduced by 0.21 RMB/square meter compared to the previous period, while the high end was reduced by 0.18 RMB/square meter compared to the previous period. The transaction volume was 80 million square meters, and there was no unsold auction. Due to the cost decline, the price of LNG continued to weaken. After continuous price reductions, the pressure was alleviated, and prices rebounded and rose on Thursday
Market outlook
LNG analysts from SunSirs believe that the domestic LNG market started to rebound and rise after a continuous decline, and downstream restocking began to increase. The market is in a stage of fluctuations, and it is expected that the domestic LNG market will mainly consolidate and operate in the short term.
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- 2024-03-27 SunSirs: China Domestic LNG Market has Stopped Rising and Fallen (March 18-25)
- 2024-03-21 SunSirs: Daily Report of China Commodity Data (March 21, 2024)
