SunSirs: Domestic LNG Prices First Decreased and Then Increased (May 22-26)
May 30 2023 14:33:10 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 26, the average price of LNG in China was 3,728 RMB/ton, which increased by 0.54% compared to the average price of 3,708 RMB/ton on May 22.
Analysis review
This week, domestic LNG prices fell first and then rose. Last Friday, the bidding price for raw gas was lowered, resulting in insufficient cost support. Coupled with the sluggish market demand and the impact of imported gas price cuts, domestic LNG prices were lowered at the beginning of the week. With the continuous decline in LNG prices, downstream procurement started to increase, and domestic LNG prices began to stop falling and rise on Thursday.
Market outlook
LNG analysts from SunSirs believe that the weak market situation in the domestic LNG market had started to rebound recently, but the demand side was still weak, the upward space was limited and the market supply exceeded demand. It is expected that the domestic LNG market will mainly consolidate 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)
