SunSirs: China LNG rebounded slightly after continuous decline (May 17-23)

According to the Commodity Market Analysis System of SunSirs, the domestic LNG prices have fallen this week. As of May 23, the average price of LNG in China was 4,278 RMB/ton, which is 1.20% lower than the average price of 4,330 RMB/ton on May 17.

Starting from the beginning of this week, the domestic LNG market continued the previous week's trend, with prices continuing to decline. Part of the pre maintenance liquid plants have resumed production, leading to an increase in market supply. The market has a strong inventory mentality, and the industry is mostly bearish. Affected by the rise in sea gas prices on Thursday, domestic liquid prices rebounded slightly. At present, there is support on the cost side, but downstream market demand is limited and trading is average.

The LNG analyst from SunSirs believes that the domestic LNG market has rebounded and risen after a continuous decline in recent days. Although sea and gas prices have risen significantly, market demand has not improved and there is limited room for rebound. It is expected that the domestic LNG prices will mainly consolidate in the short term.

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