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LAUNCESTON, Australia (Reuters) - The price of spot liquefied natural gas (LNG) for delivery to north Asia has started its traditional summer rally early this year as buyers fret about the potential for supply shortages when the peak demand season arrives.
FILE PHOTO: A liquified natural gas (LNG) tanker leaves the dock after discharge at PetroChina s receiving terminal in Dalian, Liaoning province, China July 16, 2018. REUTERS/Chen Aizhu/File Photo
The spot price rose to $8.85 per million British thermal units (mmBtu) in the week to April 30, up from $8.65 the prior week and the highest since Jan. 22.
The post northern winter low was $5.60 per mmBtu on Feb. 26, and working on the assumption that prices don’t dip in coming weeks, this would be a considerably earlier low than in the previous five years.
China has moved to cool its red-hot steel sector by discouraging exports and boosting imports of some feedstock alternatives to buoyant iron ore, steps largely viewed as short-term measures to calm prices.
KKR were in danger of getting restricted to a below-par total. They were 109 for six in 16.2 overs. However, Russell s innings, comprising four sixes and two fours, took the team through to a total with which they can compete. The