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China’s trucked LNG prices stage surprise rally
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Report summary
Spot prices of trucked LNG in China were highly volatile last month. Delivered prices in Hebei, southern Jiangsu and southern Guangdong almost doubled in just three weeks. In Hebei and Jiangsu, prices reached around RMB10,000/t on 21 December, their highest since December 2017. Prices then dropped sharply, only to increase again when another cold spell hit the country in late December, although failing to reach the previous week’s peak. In this paper, we will discuss what are the drivers of the price surge, measures China has taken to cope with the situation and what to watch in early 2021.
Table of contents
- Trucked LNG spot prices hit three-year high
- Winter gas demand accelerates
- Trucked LNG prices respond quickly to gas demand surge, fuelled by market sentiment
- Immediate upside for LNG imports appears limited
- What to watch for early 2021
Tables and charts
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Monthly averageDaily, 1 November 2020 to 5 January 2021
What's included
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