SunSirs: Weak Demand, China LNG Market Declined (October 31- November 6)
November 07 2023 13:44:23 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic LNG prices have fallen from a high point this week. As of November 6th, the average price of LNG in China was 4,830 RMB/ton, which is a decrease of 8.35% compared to the average price of 5,270 RMB/ton on October 31st.
Last week, the price of LNG in China plummeted significantly, and the prices of LNG in various regions of the country have collectively declined. At present, the market has sufficient supply and there are many heavy vehicles. Downstream replenishment enthusiasm has weakened, market demand is weak, and upward momentum is insufficient. The trend of LNG continues to decline.
LNG analysts from SunSirs believe that some regions have experienced rainy and snowy weather recently, with the impact of cooling and the arrival of the heating season, there will be an increase in demand in the later stage. It is expected that there will be signs of stabilization in the short-term LNG prices, and consolidation will be the main trend.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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