SunSirs--China Commodity Data Group

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Sunsirs: Domestic LNG Fell Sharply in October

November 01 2022 09:09:24     

1. Price trend

According to the data monitoring of the Sunsirs, the average domestic LNG price was 6,834 RMB/ton on October 1, and the average domestic LNG price on October 31 was 5,540 RMB/ton. Domestic LNG prices fell 18.93% this month.

2. Market analysis

According to the weekly rise and fall from August 8, 2022 to October 30, 2022, it can be seen that the domestic LNG cycle saw mixed rises and falls, with more falls. The largest increase in the cycle was 10.25% in the week of September 12, and the largest decline was -12.1% in the week of October 24.

The domestic LNG market price fell sharply in October, down 18.93% during the month. During the National Day, the price of liquefied natural gas was lowered due to transportation obstructions. After the National Day, the transportation of hazardous chemicals vehicles returned to normal, and downstream replenishment increased. LNG prices continued to climb amid favorable demand follow-up. In mid-October, domestic LNG prices began to fall, and downstream replenishment demand turned weak. The upstream shipments were under great pressure, and the market fell. As the domestic epidemic weakened, traffic began to resume smoothly, and LNG stabilized. In late October, due to the strengthening of epidemic control, poor traffic, sufficient supply in the field, and insufficient downstream demand, liquid factories cut prices one after another, and the market was bearish.

As of October 31, 5550-5800 RMB/ton in Inner Mongolia, 5680-6000 RMB/ton in Shaanxi, 5500-6000 RMB/ton in Shanxi, 5700-5960 RMB/ton in Ningxia, 6300-RMB/ton in Hebei , Henan area 6110-6600 RMB/ton.

3. Market outlook forecast

Analysts from Sunsirs believe that the domestic LNG market fell sharply in October, and the market continued to decline. Although the price of raw gas rose, the trading in the market was flat. Under the control of the epidemic, traffic is blocked, and downstream buyers are buying up but not down, and the market is oversupplied. Under the dominance of negative factors, it is expected that domestic LNG prices will continue to run weakly in the short term, waiting for the release of demand in the heating season.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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