The Hong Kong stock gas sector rose against the market trend, which stocks had active trends? Global gas prices are now seasonally rising, what are the market expectations?
On June 24th, China Financial Information Network (Editor Feng Yi) reported that the Hong Kong stock gas sector strengthened against the trend in the afternoon. As of press time, Chi People Holdings (00681.HK) rose more than 4%, Tianjin Jinran Public Utilities (01265.HK), China RES Gas (01193.HK) rose more than 1%, and Binhai Investment (02886.HK) followed suit.
On the news front, since mid-June, the global natural gas prices have shown signs of strength as overseas regions such as the United States enter the peak demand season for summer.
On the market side, from June 10th to June 14th, the weekly average prices of natural gas futures for Henry Hub in the United States, NBP in the United Kingdom, and TTF in the Netherlands rose by 7.8%, 1.7%, and 1.8%, respectively.
According to research by Xingzheng Futures, overall, the supply and demand in the U.S. market have recently increased. The increase in power generation demand has supported gas prices during the peak season. However, considering the high natural gas inventories in the United States, it is necessary to pay attention to changes in high-temperature weather in the future.
On the other hand, the rise in overseas natural gas prices is gradually being transmitted to China.
Data showed that as of June 14, China's LNG landed price was $12.94/million British thermal units, up nearly 9% month-on-month.
According to a report on June 22 by Left Qianming, an analyst at SDIC Securities, as of June 21, the national index for LNG ex-factory prices at the Shanghai Petroleum and Natural Gas Exchange was 4,438 yuan/ton, up 2.16% year-on-year and up 0.57% month-on-month.
SDIC Securities stated that with the recovery and growth of domestic natural gas consumption, the urban gas industry is expected to achieve stable sales gas margin and high growth in sales volume.
It is worth noting that according to statistics from the National Bureau of Statistics, from January to May, the scale of industrial natural gas production above designated size was 103.3 billion cubic meters, an increase of 5.2% year-on-year. Among them, imported natural gas was 54.28 million tons, an increase of 17.4% year-on-year.
SDIC Securities pointed out that traders who have low-cost long-term gas sources may also choose to expand imports to seize market opportunities and increase profit margins.