SunSirs: China Domestic LNG Prices Stopped Falling and Rose (March 4-11)
March 13 2024 10:39:34 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the price of LNG in China increased last week. As of March 11th, the average price of LNG in China was 4,076 RMB/ton, which is 3.19% higher than the average price of 3,950 RMB/ton on March 4th.
Last week, the domestic LNG market stopped falling and rose. At the beginning of the week, domestic liquid prices fell. The market supply is sufficient, demand is weakening, and the situation of oversupply is increasing. Combined with the decline in imported gas prices, it is bearish for the domestic market. Starting from Wednesday, domestic liquid prices have stopped falling. On March 8th, the bidding price for raw gas from PetroChina Northwest Liquid Plant in mid March (March 10th to March 20th) was 2.28-2.35 RMB/cubic meter, with a lower price increase of 0.08 RMB/cubic meter compared to the previous period and a higher price increase of 0.10 RMB/cubic meter compared to the previous period, resulting in a transaction of 105 million cubic meters and no unsold bids. The increase in raw material gas prices has led to an increase in bullish sentiment in the LNG market, and liquid prices have begun to rise.
LNG analysts from SunSirs believe that domestic LNG prices have stopped falling and risen recently. The increase in raw material gas prices has boosted domestic liquid prices. But as the domestic temperature recovers, the enthusiasm for restocking weakens. It is expected that the domestic LNG prices will mainly consolidate in the short term.
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- 2024-04-12 SunSirs: China Domestic LNG Prices Rise after the Qingming Festival (April 5-11)
- 2024-04-08 SunSirs: China Domestic LNG Market first Suppressed and then Rose (April 1-7)
- 2024-03-27 SunSirs: China Domestic LNG Market has Stopped Rising and Fallen (March 18-25)
- 2024-03-21 SunSirs: Daily Report of China Commodity Data (March 21, 2024)
