SunSirs: China Domestic LNG was Promoted first and then Suppressed in December

https://www.chemnet.com   Jan 03,2023 SunSirs

　　According to the data monitoring of SunSirs, as of December 29, the average price of domestic LNG was 6,060 RMB/ton, which was higher than the average price of 4,900 RMB/ton on December 1. The domestic LNG price rose by 23.67% this month.

　　It can be seen from the weekly rise and fall from October 3, 2022 to December 25, 2022 that the domestic LNG rose a lot in December, and the maximum decline in December was 23.39% in the week of December 5.

　　In December, domestic LNG rose first and then fell. The cost of the liquid plant increased due to the rise of feed gas price. In the first half of December, the price of domestic LNG rose sharply, breaking 8,000 RMB/ton. In the second half of December, domestic LNG prices began to decline at a high level. Downstream demand support is weak, and the market continues to fall. Market supply exceeded demand, the bearish sentiment on the floor increased, and the high liquid price began to continue to cover the decline.

　　LNG analysts from SunSirs believe that the domestic LNG market is weak in recent days, with obvious oversupply in the market and lack of good support on the market. Tomorrow's raw gas auction will increase the wait-and-see mood. It is expected that the market price of LNG will decline mainly in the short term.

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