LNG Futures Traded Volumes Soared in Q1 2024

Total traded volumes in the JKM LNG derivates market on ICE reached the highest since Q3 2021 in the first quarter of this year according to exchange data.

• The JKM LNG futures and JKM LNG balance-month next-day futures traded volumes cleared on the ICE in Q1 totaled 247,898 lots, equivalent to around 47.67mn tons, or 751 cargoes.
• In the physical market, LNG imports into JKTC stood at around 56.39mn tons, or 888 cargoes, in the first quarter of this year, S&P Global Commodity Insights data showed.
• Trades volumes cleared in March totaled 82,542 lots, down by 10.7% on the month but up by 58.32% on the year, exchange data showed.
• The open interest for the JKM LNG futures and balance-month next-day futures reached a 25-month high of 103,669 lots standing across the ICE as of March 28, the highest since February 2022.
• Some 102,894 lots of open interest for JKM LNG futures were recorded, along with 775 lots of open interest for the JKM LNG balance-month next-day futures.
• The margin rate for the front-month May JKM contract was reported at $10,306, according to the ICE as of March 28.
• Platts JKM prices averaged $9.152/mmbtu in March, up from $8.756/mmbtu in February.