SunSirs: China Domestic LNG Market has Stopped Rising and Fallen (March 18-25)
March 27 2024 11:02:53 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic LNG prices have fallen this week. As of March 25th, the average price of LNG in China was 3,902 RMB/ton, which is a decrease of 1.86% compared to the average price of 3,976 RMB/ton on March 18th.
Last week, the domestic LNG market fell. Last week, domestic temperatures rebounded, the heating season came to an end, market demand was weakening, and bearish sentiment on the market increased. At present, there is still support on the cost side, but due to the sustained weakness in terminal demand and high market supply, the situation of oversupply is difficult to improve in the short term. The liquid factory is under pressure to ship, resulting in a concentrated decrease in liquid prices.
LNG analysts from SunSirs believe that domestic LNG prices have stopped rising and falling recently. A new round of bidding for raw gas will be launched, with market observation as the main focus. Expected short-term consolidation of domestic LNG prices.
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