Weak shoulder demand period starts early

摘要

Softer demand that typically characterises the April-May shoul-der season has started this month,pushing prices sharply lower for northeast Asian spot deliveries.And an increase in available spot volumes has put further pressure on prices. Spot prices on 7 March fell by around$3.075/mn Btu on the previous month to$17.075/mn Btu,and by$3.325/mn Btu from this winter’s high of$20.40/mn Btu on 4 February. Demand from Japan,this winter’s swing buyer,has shrunk slightly with requirements for May estimated at around 3-5 cargoes,compared with around eight cargoes during the January-March peak winter months.