SunSirs: China LNG Price Fell in the First Week after the New Year’ Day (1.2-1.8)
January 10 2024 14:06:23 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic LNG prices have fallen this week. As of January 8th, the average price of LNG in China was 5,406 RMB/ton, which is a decrease of 2.70% compared to the average price of 5,556 RMB/ton on January 2nd.
Domestic LNG prices have fallen this week. In the first week after the holiday, there were many heavy vehicles in the market, and downstream delivery capacity was limited. Environmental protection control has been strengthened in some areas, and industrial demand has weakened. The liquid factory lowered prices to digest inventory, hindering the upward trend of the market. On the afternoon of January 5th, in the second week of January (January 7th to January 14th), the bidding price for raw gas from PetroChina Northwest Liquid Plant was 3.3-3.45 RMB/cubic meter. The low price was reduced by 0.05 RMB/cubic meter compared to the previous period, and the high price was increased by 0.03 RMB/cubic meter compared to the previous period. All 57.4 million cubic meters were sold. The bidding results have no significant impact on the market for the time being.
LNG analysts from SunSirs believe that the domestic LNG price trend has continued to weaken in recent days. At present, the market supply is sufficient, downstream demand is weakening, and the market's willingness to ship is strong. It is expected that domestic LNG prices will continue to decline weakly in the short term.
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- 2024-03-21 SunSirs: Daily Report of China Commodity Data (March 21, 2024)
