LNG: Japan Utilities LNG Stocks Unchanged on Week
Jan-21 09:49
LNG stockpiles held by Japanese utilities were again almost unchanged on the week with an increase of just 0.44% on the week to Jan. 18 to 2.29m tons, according to trade ministry data.
- Stocks remain healthy but below the highest since Jan. 2024 at 2.43m tons in late December.
- The five-year average for the end of January is 2.05m tons and stockpiles were 2.31m tons around this time in 2025.
- Japan 30-day average imports have fallen back in the last week from a recent high of 209k tons on Jan. 15 to 186k tons on Jan. 20, Bloomberg vessel tracking showed.
- Weekly LNG deliveries into Japan from Jan. 12 to Jan. 18 rose by 0.41m tons from the prior week to 1.84m tons, BNEF said. Cumulative monthly deliveries so far in Jan have been around 0.2m tons less than a year ago.
- Cold weather in Asia this week is boosting demand and supporting prices. Japan’s power price rose to a three-month high on Jan. 21.
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SOFR: Futures Flat To A Little Lower, Several Rounds Of Flow In London Trade
Dec-22 09:44
SOFR futures are flat to -1.5, with pressure from core global FI markets (albeit with Bunds bouncing off the lows before 10-Year yields could test year-to-date highs) and typically hawkish Fedspeak from Hammack noted over the weekend.
- Several rounds of flow worth highlighting in early London trade:
- SFRZ6 ~6.5K given at 96.900.
- SFRH7/H9 ~3.3K given at 40.5.
- SFRH6 96.56/96.43/96.37/96.18 broken put condor 4K given at 5, desks point to closing out of an existing position.
EURIBOR OPTIONS: Call Spread buyer
Dec-22 09:41
ERU6 97.9375/98.0625cs, bought for 2.5 in 2.5k.
EQUITY OPTIONS: Estoxx Put buyer
Dec-22 09:31
SX5E (17th Apr) 4950p, bought for 35.7 in 8k.
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