Liquefied natural gas (LNG) price edged up 0.2% and liquefied petroleum gas (LPG) price rose by 7.6% in mid-July in China, showed the latest data from the National Bureau of Statistics.
China's LNG price was 2,548.5 yuan/t in mid-July, growing by 4.8 yuan/t or 0.2% from early July.
LPG price picked up 201.8 yuan/t or 7.6% from early July to 2,848.0 yuan/t,compared with a 3.6% growth in the previous session.
China's LNG market continued the downside since April, ever sliding below 2500 yuan/t in mid-June, due to supply glut globally and the impact from the COVID-19 pandemic. The LNG price is expected to linger at a low level under few favorable factors and more low-priced imported LNG flooding into the domestic market.
However,China's LNG price is rebounding recently, as demand has recovered while the supply is reduced due to cut of crude oi production, increasing the import cost.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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