The Platts JKM for October finished the Asian trading week at $7.30/MMBtu Thursday, down 10 cents/MMBtu from last Friday, amid weak demand.
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The marker was not assessed Friday due to a public holiday in Singapore.
The JKM fell 10 cents/MMBtu to $7.30/MMBtu Monday as sellers lowered offers following recent deals, with Japan's JX Nippon Oil & Energy Corp. and Taiwan's CPC both heard to have traded in the low to mid-$7s/MMBtu.
The marker remained unchanged at $7.30/MMBtu for the rest of the week, with the offer level unchanged below $7.50/MMBtu and bids in the low $7s/MMBtu or lower, keeping the gap between offers and bids wide.
Demand from India was heard to be waning after recent deals reportedly concluded between IOC and Qatar pushed end-user bids below the $7/MMBtu mark.
Regular buyers in Japan and South Korea continued to shy away from the market due to high stocks.
Most portfolio sellers and traders were heard to have already optimized their October deliveries and trade activity was thin.
Switzerland-based Glencore announced at an industry conference in Singapore that it had sold a spot LNG cargo Wednesday and bought a separate cargo the next day, without disclosing details of either deal.
Indonesia's Bontang was heard to have awarded a recent tender to supply one FOB cargo loading in the second half of September, with portfolio suppliers BG and BP named by some sources as potential winners and the price reported to be in the low $7s/MMBtu FOB.
Nigeria's tender to sell one cargo for late September lifting was expected to be awarded below $7/MMBtu due to the prompt laycan.
LNG players in the Atlantic Basin remained focused on the Middle East as a demand center, market sources said. Players with short positions into the Middle East were heard bidding for November-delivery cargoes below the $7/MMBtu mark, and offers were heard coming down to the $7.25/MMBtu level.
--Eriko Amaha, firstname.lastname@example.org
--Edited by Wendy Wells, email@example.com