SunSirs: China Domestic LNG Prices Rise after the Qingming Festival (April 5-11)
April 12 2024 10:52:47 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the price of LNG in China has increased this week. As of April 11th, the average price of LNG in China was 3,916 RMB/ton, which is 2.51% higher than the average price of 3,820 RMB/ton on April 5th.
After the Qingming Festival, the domestic LNG market rose. After the holiday, traffic resumed smoothly and market trading increased. Maintenance of some liquid plants in Inner Mongolia has led to a decrease in LNG supply. Under tight supply conditions, low liquid prices are pushing upwards. But downstream demand is average, and the market is still dominated by oversupply.
The LNG analyst from SunSirs believes that in recent days, domestic LNG prices have slightly increased, with downstream on-demand procurement being the main focus, and the demand side needs to be improved. It is expected that the domestic LNG prices will narrow down in the short term.
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