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Markets & Forecasts

Chinese LNG prices pushed down by supply glut

Abundant supplies in the run-up to a public holiday saw Chinese LNG plants cut their asking prices last week Abundant supplies in the run-up to a public holiday saw Chinese LNG plants cut their asking prices last week.
By Tang Tian 2 October 2019 Asia Pacific / LNG 0 34634
Ex-works prices of LNG

The average wholesale price of LNG produced in China edged down by 1.32% last week from the week before, to RMB 3,135 per ton ($8.49/MMBtu). A supply glut amid soft industrial demand in the run-up to the week-long National Day public holiday between 1 and 8 October led 49 plants in Inner Mongolia, Shanxi, Henan, Gansu, Ningxia, Shaanxi, Xinjiang and Chongqing to cut their asking prices by an average of 2.47% on a weekly basis.