•  LNG prices for the four key East Asian importers have fallen back after edging up in February on late-winter buying.

•  Japan paid $5.90/mn BTU for spot cargoes imported in April, down a third from February’s 23-month high of $8.80/mn BTU. Prices have since dipped further, with Japanese buyers paying just $5.70/mn BTU for cargoes contracted in April  a rough approximation for May arrival (see chart).

•  That said, the latest overall import data...