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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
LNG stockpiles held by Japanese utilities increased 0.97% w/w to 2.09m tons in the week to June 30 from 2.07m tons the previous week, according to data released by the trade ministry.
- Storage has caught up with last year's volumes and almost unchanged from 2.08m tons the previous year but above the previous five year average of 2.01m tons for the end of June.
- Power demand remains relatively weak despite some hot days recently, according to ICIS.
- India importers continue to procure spot LNG cargoes despite monsoon rains, six days earlier than normal, limiting power demand, according to Bloomberg. LNG procurement going forward will likely be to meet industrial rather than power demand.
- Procurement is supporting price in the high $11/mmbtu to low $12/mmbtu range, Bloomberg said.
Source: ICIS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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