The average price paid by Japanese buyers for spot LNG in October was $15.30/MMBtu, up 15.9% from $13.20/MMBtu in September, the Ministry of Economy, Trade and Industry said Wednesday, November 12.
The Platts Japan Korea Marker averaged $13.890/MMBtu in October. This reflects spot deals concluded in October for delivery in November and December to Japan and South Korea.
Trading in November-delivered cargoes was thin in October as some Japanese buyers were looking for December parcels.
In the first half month of October, the average JKM assessment for cargoes delivered in December was $15.363/MMBtu. By the end of October, however, the average price for December cargoes had dropped significantly, with the December JKM assessed at $12.55/MMBtu on October 31.
METI said the average price of LNG cargoes delivered to Japan in October was $12.40/MMBtu, up 9.7% from $11.30/MMBtu in September.
The Platts JKM for October-delivered cargoes averaged $12.826/MMBtu. Platts assessments between August 18 and September 15 reflect the price of spot cargoes for delivery in October.
The October trading month began with the JKM at $12/MMBtu on August 18 and climbed steadily to end at $13.70/MMBtu on August 15.
METI said that only spot cargoes, or single cargoes, were taken into account, excluding short-, medium- and long-term contract cargoes, as well as those linked to a particular price index.
METI converts all delivery conditions into a DES equivalent basis before taking an average of the prices.
Source: Platts
The Platts Japan Korea Marker averaged $13.890/MMBtu in October. This reflects spot deals concluded in October for delivery in November and December to Japan and South Korea.
Trading in November-delivered cargoes was thin in October as some Japanese buyers were looking for December parcels.
In the first half month of October, the average JKM assessment for cargoes delivered in December was $15.363/MMBtu. By the end of October, however, the average price for December cargoes had dropped significantly, with the December JKM assessed at $12.55/MMBtu on October 31.
METI said the average price of LNG cargoes delivered to Japan in October was $12.40/MMBtu, up 9.7% from $11.30/MMBtu in September.
The Platts JKM for October-delivered cargoes averaged $12.826/MMBtu. Platts assessments between August 18 and September 15 reflect the price of spot cargoes for delivery in October.
The October trading month began with the JKM at $12/MMBtu on August 18 and climbed steadily to end at $13.70/MMBtu on August 15.
METI said that only spot cargoes, or single cargoes, were taken into account, excluding short-, medium- and long-term contract cargoes, as well as those linked to a particular price index.
METI converts all delivery conditions into a DES equivalent basis before taking an average of the prices.
Source: Platts
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