The hike in prices and limitations on supplies have led to buyers holding off and waiting for a correction in prices, subsequently leading to this observed market softening.
Spot prices for November deliveries to Asia are now approximately US$12 per million Btu, down 5 cents from previous weeks. According to source late October cargos have also weakened during, slipping to around US$11.40 from US$11.55. These trends mark a change from previous weeks where multi-year seasonal highs were reached.
Aside from pre-winter demand from Japanese and South Korean customers, prices of contracts have been pulled up by rising oil prices (against which several deals are priced).
