SunSirs: Cost Support, China LNG slight increased Last Week (August 7-11)
August 14 2023 10:20:37 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the price of LNG in China increased last week. As of August 11th, the average price of LNG in China was 3,640 RMB/ton, which is 0.28% higher than the average price of 3,630 RMB/ton on August 7th.
Last week, the price of LNG in China slightly increased. At the beginning of the week, there were many heavy vehicles in the market, with average downstream demand and narrow fluctuations in liquid prices. Before bidding for raw gas, the market is mainly wait-and-see. On the afternoon of August 9th, the bidding price for raw gas at PetroChina Northwest Liquid Plant in mid August (August 11-20) was 2.04 to 2.09 RMB/cubic meter, with an average price increase of 0.01 RMB/cubic meter compared to the previous period, resulting in a transaction of 120 million cubic meters and no unsold bids. The price of raw gas has slightly increased, with some regions undergoing maintenance of liquid plants, and downstream restocking willingness increasing, resulting in a slight increase in liquid prices.
LNG analysts from SunSirs believe that the domestic LNG market has shown a stable and upward trend in recent days. Under cost support, liquid factories mainly maintain stable prices, and the market tends to adopt a wait-and-see mentality. It is expected that in the short term, the domestic LNG prices will fluctuate and operate in a narrow range.
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