SHARES OF STORAGE STOCKS CLIMB AFTER SEAGATE'S UPBEAT FORECAST: WESTERN DIGITAL UP 9.7%, MICRON UP 4%, SANDISK UP 6.7%

China’s liquefied natural gas imports are expected to fall to about 3.5 million tons in April, the lowest monthly level in eight years, according to Kpler ship-tracking data. That would be about 30% lower year-on-year and the weakest since April 2018 if confirmed by official data. The drop is linked to higher LNG prices driven by the Middle East war, with Asian spot prices about 70% above pre-war levels. China also recorded no LNG re-exports in April, compared with more than 700,000 tons in March. The conflict has disrupted global LNG supply, including shutdowns at Qatar’s export facilities and near-zero flows through the Strait of Hormuz, while Chinese buyers have increasingly shifted to cheaper piped gas.

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