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Industrial Gas Demand in Chinese Factory Hub Fell 43% Last Month

  • Factory consumption tumbled in Jiangsu province, near Shanghai
  • Nationwide demand for the fuel dropped 6%, Morgan Stanley said

Industrial demand for natural gas in the factory-heavy province of Jiangsu slumped 43% in April from a year earlier, in another sign of how virus lockdowns are wreaking havoc on China’s economy.

Jiangsu is China’s second-biggest provincial economy and it lies just to the north of Shanghai, where the harshest Covid-19 restrictions resulted in a web of quarantine rules disrupting transport and labor. The figures are from the National Energy Administration.