SunSirs: China Domestic LNG Demand is Weak
November 15 2022 09:58:17 SunSirs (Selena)
According to the data monitoring of SunSirs, as of November 11, the average price of LNG in Inner Mongolia was 4,806 RMB/ ton, down 2.91% from the average price of 4,950 RMB/ ton on November 7.
The weak domestic LNG market continued last week, and the price continued to decline. At present, the market demand is weak and the trading and investment are flat. The price fell sharply in the air, which was bad for the domestic gas market. Although the heating season is coming, the temperature is relatively high in recent days, and the demand has not improved. The liquid plant has discharged more inventory and reduced the price. After successive price reductions, the market in some regions rebounded slightly. Due to the control of the epidemic situation in Inner Mongolia, the shipment is not smooth, and the market continues to decline.
LNG analysts from SunSirs believe that due to the sluggish terminal demand in recent days, the market for LNG continues to run weak due to oversupply on the market. The industry held a wait-and-see attitude, with gains and losses in various regions of China. Although the cost has some support, the demand side has not improved, and China LNG market is expected to consolidate in the short term.
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