SunSirs: The Cost has Risen, China LPG and LNG Prices have Risen

According to the Commodity Market Analysis System of SunSirs, the prices of LNG in China have increased after the holiday. As of October 10th, the average price of LNG in China was 4,502 RMB/ton, which is a 6.78% increase compared to the average price of 4,216 RMB/ton on October 7th.

On the afternoon of October 9th, the bidding price for raw gas from PetroChina Northwest Liquid Plant in mid October (October 11-October 20th) was 2.63 to 2.68 RMB/square meter, with a lower price increase of 0.28 RMB/square meter compared to the previous period and a higher price increase of 0.25 RMB/square meter compared to the previous period. All 95 million cubic meters were sold. Due to the significant increase in raw gas prices and cost support, liquid plants have raised prices, and LNG prices in Shandong have reached 5,000 RMB/ton. In terms of sea and gas, the LNG prices at some receiving stations have increased significantly.

Recently, many regions in China have experienced cooling and rainy and snowy weather. The domestic weather has turned cold, leading to an increase in demand for LNG and an increase in willingness to replenish downstream reservoirs. After National Day, the high-speed restrictions on hazardous chemical vehicles have been lifted, and transportation has been smooth, which is beneficial for the LNG market.

LNG analysts from SunSirs believe that the domestic LNG market has shown a strong upward trend in recent days. The surge in raw gas prices, coupled with the impact of colder weather, has led to a strong market sentiment towards high prices. It is expected that in the short term, domestic LNG prices will continue to be strong and upward.

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