SunSirs: Market Downturn, LNG Prices Fell (May 15-19)
May 23 2023 09:41:34 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 19th, the average price of LNG in China was 3,858 RMB/ton, which was decreased by 2.67% compared to the price of 3,964 RMB/ton on May 15th.
Analysis review
Domestic LNG prices have fallen this week. Currently in the off-season, natural gas demand is performing poorly, downstream restocked on demand and market supply exceeded demand. In terms of imported LNG, the price of LNG at the receiving terminal had been lowered. On the afternoon of May 19th, PetroChina Northwest Liquid Plant bade for raw gas prices in late May (May 21-31). The starting price was 2.08 RMB/square meter, and the transaction price was 2.08-2.1 RMB/square meter. The low price was reduced by 0.32 RMB/square meter compared to the previous period, and the high price was reduced by 0.44 RMB/square meter compared to the previous period. The transaction volume was 69.51 million square meters, and the auction volume was 18.49 million square meters.
Market outlook
LNG analysts from SunSirs believe that the domestic LNG market was continuously weakening recently, and demand continued to be weak. On Friday, the bidding price of raw gas was lowered, and cost support weakened. It is expected that the domestic LNG prices will continue to decline in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-19 SunSirs: Due to the Impact of Imported Gas, China Domestic LNG is Experiencing a Concentrated Increase
- 2024-04-12 SunSirs: China Domestic LNG Prices Rise after the Qingming Festival (April 5-11)
- 2024-04-08 SunSirs: China Domestic LNG Market first Suppressed and then Rose (April 1-7)
- 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)
