MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

LNG Prices Delivered to EU And Asia at Seven Month Lows

LNG

LNG prices for delivery to Europe and Asia are tracking lower and at seven-month lows in line with falling European hub prices.

  • LNG delivered ex-ship (or DES) to NW Europe in February on Jan 22 fell to $8.06/mmbtu (€25.25/MWh) and the lowest since $7.94/mmbtu on Jun 8 according to Spark Commodities data.
  • North Asian spot LNG prices have fallen to the low to mid $9/mmbtu range according to Bloomberg with further declines expected due to weak demand.
  • US LNG exports are more profitable to Asia according to BNEF with February at 7.18$/mmbtu compared to 6.27$/mmbtu to Europe. The US netbacks are also showing a small premium to Asia over Europe into the summer months.
  • The front month JKM-TTF spread is today up around +2.7$/mmbtu according to Bloomberg from near +1$/bbmtu throughout most of Jan.
    • TTF FEB 24 down -0.4% at 27.15€/MWh
    • NBP FEB 24 down -0.2% at 66.8p/th
    • JKM Feb 24 up 5% at 11.34$/mmbtu
    • JKM-TTF Feb 24 up 1.4$/mmbtu at 2.71$/mmbtu
    • US Natgas FEB 24 down -1.4% at 2.39$/mmbtu
Energy BulletsPower BulletsCommodities
Energy BulletsPower BulletsCommodities

To read the full story

Close

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.