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Asian LNG Spot Prices Hold at 6-Week High: Reuters

LNG

Asian spot LNG prices were largely unchanged on the week, holding at a six-week high of $9.50/MMBtu for the third successive week, according to Reuters.

  • Robust demand from buyers continues to shore up prices, keeping them at their highest since Feb. 9, Reuters said.
  • Demand has been sustained due to below-normal colder weather, which has sparked some gas demand.
  • Some Chinese buyers are awaiting further falls in prices before boosting their buying.
  • In India and South Korea, high terminal stocks have capped buying interest, although lower inventories in Japan have spurred some demand.
  • Looking at spot freight, both Atlantic and Pacific rates both fell for a second consecutive week to $44.75k/day and $47k/day respectively, according to Spark Commodities data.
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