The average price Japanese buyers paid for spot cargoes contracted in November jumped 15% month on month to $7.0/MMBtu, the highest since January this year, the Ministry of Economy, Trade and Industry showed Friday.
METI gathers data from utilities and other LNG buyers in Japan to publish a simple average of contract prices, but the delivery months of the cargoes are not disclosed.
Platts JKM averaged $7.181/MMBtu in November, reflecting spot deals concluded for December and January deliveries to Japan and South Korea.
The ministry also said the average price of cargoes delivered into Japan in November was $5.9/MMBtu, up 3.5% from the previous month.
Meanwhile, the Platts JKM for November delivery averaged $5.977/MMBtu. The November JKM was assessed from September 16 to October 14, during which prices rose, thanks to firm demand from end-users.
