SunSir: Demand Was Weak, the LNG Prices Declined (August 18-24)
August 25 2023 09:27:37 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of LNG in China fell this week. As of August 24th, the average price of LNG in Inner Mongolia was 3,732 RMB/ton, a decrease of 1.06% compared to the average price of 3772 RMB/ton on August 18th.
Analysis review
Domestic LNG prices had fallen this week. Some maintenance LNG factories had resumed work, leading to an increase in market supply. Downstream demand was poor, delivery capacity was limited, market supply exceeded demand, and heavy vehicles in the market increased. Various regions in China had varying fluctuations, with a significant decline in Shaanxi and a narrow adjustment in Inner Mongolia. In terms of imported gas, the prices of receiving stations were raised.
Market outlook
LNG analysts from SunSirs believe that the domestic LNG market had weakened recently, and some LNG plants in certain regions reduced prices. The terminal demand was weak, and the market tended to adopt a wait-and-see mentality. As of August 24th, the market lacked upward momentum, and it is expected that the domestic LNG prices will be narrowly adjusted in the short term.
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