China – world’s biggest importer of liquefied natural gas is trying to sell some spare supply due to fear that demand is dampened as authorities lockdowns parts of the country amid intensified COVID-19 infection rate.
Major buyers, including Cnooc Ltd., are offering at least five shipments for summer delivery on the spot market amid the deteriorating domestic outlook, according to traders with knowledge of the matter as reported by Bloomberg.
The companies could look to offload more cargoes if Covid-19 restrictions around China increase, the traders said, requesting anonymity to discuss private details.
Iron ore, a key economic barometer, slumped Monday as news of mass testing of people in a neighborhood in the Chinese capital spooked the market.
