Day: October 7, 2021

Initially sparked by supply chain disruptions associated with the Covid-19 pandemic, a worldwide shortage of microchips has intensified in recent months, largely due to a new round of lockdowns in Southeast Asia. Given the impact on strategically important sectors like automotive, efforts are underway to prevent similar issues in the future. Microchips – also known as superconductors – are the “brains” inside electronic devices. They manage a host of systems in vehicles, for example, including electric windows and driver-safety features. Demand for microchips rose sharply during the early stages of…

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Asia-Pacific spot LNG prices hit a fresh record high Oct. 6, with the JKM benchmark surpassing $50/MMBtu for the first time ever as the gas price crisis in Europe grows more severe, increasing global competition for LNG cargoes. Surging European gas prices were exerting significant upward pressure on Asia-Pacific LNG cargo prices as trading houses and portfolio groups raised their bids to attract volumes into the region, according to market sources. This intense competition for marginal LNG cargoes meant that bids were priced at a premium over European gas hub…

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Stocks on Wednesday extended losses led by cement as record world coal prices are seen denting the sector’s profitability big time, dealers said. After losing 293 points or 0.7 percent the KSE-100 Shares Index closed at 44,373 points at Pakistan Stock Exchange (PSX). Topline Securities in a post market note said equities continued to decline as benchmark index settled down after opening sideways. “The market witnessed profit taking where the index made an intraday low … cements sector declined the most on higher international coal prices,” it added. Coal prices…

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A surge in Asian spot LNG prices to record highs ahead of the peak northern hemisphere winter demand season has sparked questions on where the price ceiling for the fuel is. But the answer may depend entirely on European gas hub prices, industry participants said. The front half-month ANEA price, the Argus assessment for spot LNG deliveries to northeast Asia, rose by $5.670/mn Btu or 15.6pc on 6 October, breaching $40/mn Btu for the first time and hit an all-time high of $42.095/mn Btu for first-half November deliveries. It surpassed…

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