GLOBAL LNG-Asian spot prices recover a little on improving demand
SINGAPORE, May 8 (Reuters) - Asian spot liquefied natural gas (LNG) prices recovered a little this week as demand appeared to improve amid the easing of coronavirus lockdowns in a few countries, trade sources said.
The average LNG price for June delivery into northeast Asia LNG-AS rose to an estimated $2 per million British thermal units (mmBtu) this week, up 20 cents from the previous week, traders said.
That followed three straight weeks of decline.
While lockdowns are easing in some markets, such as in China and South Korea, containment policies elsewhere are hampering their manufacturing exports and dragging on recoveries.
South Korea’s GS Energy entered the spot market, seeking two cargoes for delivery in June, while Chinese utility Guangdong Energy group, previously known as Guangdong Yudean Group, was seeking a cargo for July, sources said.
Chinese buyers were also participating in sell tenders by other companies, one of the sources said.
Source and more information at: Reuters