SunSirs: Cost Boosts China Domestic LNG Prices Continuously Rising (6.9-6.15)
June 16 2023 10:10:31 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the prices of LNG in China have been continuously rising recently. As of June 15th, the average price of LNG in China was 3,890 RMB/ton, which is an increase of 8.42% compared to the average price of 3,588 RMB/ton on June 9th.
This week, domestic LNG prices continued to rise. Due to the increase in raw gas bidding prices last Friday, cost support was positive, and LNG began a continuous upward trend. The demand for downstream restocking has started to increase, and the market has a strong mentality of favoring prices. With the arrival of high-temperature weather in many parts of China, demand has increased, and the LNG market continues to rise. Under the continuous rise of LNG prices, the enthusiasm for downstream replenishment has weakened, the market has a backlog of heavy vehicles, and the rise of LNG has slowed down.
SunSirs LNG analysts believe that this week, with favorable costs and the support of hot weather, domestic LNG prices have been continuously rising. With the continuous increase in liquid prices, downstream replenishment demand has decreased, and the decrease in imported gas prices has an impact on domestic gas. It is expected that China domestic LNG prices will stabilize in the short term.
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- 2024-03-21 SunSirs: Daily Report of China Commodity Data (March 21, 2024)
