China Resumes Spot LNG Purchases to Take Advantage of Price Drop
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Chinese firms are purchasing liquefied natural gas shipments from the spot market, a reversal of months of relative inactivity from the world’s top buyer, after prices slumped to the lowest level in about a year.
At least two shipments were procured last week at the $10 per million British thermal units level, according to traders with knowledge of the matter. More buying may materialize this week if prices remain in this range, the traders added.