China spot LNG delivery price averaged Yuan 4,855/tonne as of July 18, up Yuan 35/tonne from the previous trading day, according to OilChem.
Imported LNG ex-terminal prices stood at Yuan 4,760/t today, up Yuan 44/tonne from the previous trading day, according to OilChem. The prices were resilient as the terminals held the prices firm on high cost, though the downstream purchases slowed after the price hike.
LNG sales volume by truck at coastal terminals was 40,026 tonnes on July 17, down 1.75% from the last trading day. In detail, the sales volume was 17,094 tonnes in East China, up 2.26%, 13,650 tonnes in South China, up 12.46%, and 7,392 tonnes in North China, down 25.89%, according to OilChem data.
Domestic LNG prices are expected to maintain momentum on the backdrop of imported LNG prices staying high on firm cost, in addition to smooth shipment and relatively low in-plant inventory, despite weakening demand.
Written by Aggie Hu, huchenying@mysteel.com
Edited by Navy Liu, liuchuanjun@mysteel.com