SunSirs: Positive Factors Lead to an Increase in LNG Prices (September 18-22)
September 25 2023 09:55:51 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the price of LNG in China increased last week. As of September 22, the average price of LNG in China was 4,430 RMB/ton, which is 3.65% higher than the average price of 4,274 RMB/ton on September 18.
Last week, the price of LNG in China increased. At the beginning of the week, the price of LNG in China remained stable, with the market being mainly wait-and-see and limited downstream delivery capacity. On the afternoon of September 19th, the bidding price for feed gas at PetroChina Northwest Liquid Plant in late September (September 21st to September 30th) was 2.51-2.6 RMB/square meter, with a lower price of 0.1 RMB/square meter compared to the previous period and a higher price of 0.06 RMB/square meter compared to the previous period. All 94 million cubic meters were sold. Although the price of raw gas has slightly declined, terminal demand has increased near the National Day holiday, and liquid prices began to rise on Wednesday. At present, inventory is low, coupled with local pipeline maintenance, and liquid prices are concentrated upward on Friday, with both sea and land prices rising.
LNG analysts from SunSirs believe that the recent trend of domestic LNG market is dominated. At present, the market has a strong mentality of favoring prices, with no pressure on the liquid level and an increase in downstream restocking as the holiday season approaches. It is expected that the domestic LNG prices will continue to rise in the short term.
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