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China Imports Increased in Q1'23

China saw a sharp drop in helium imports in Q3'22, likely due to the lockdowns and exacerbated due to the protests taking place soon after in Q4'22. However, we can see a quick recovery in Q1'23. Volumes have been picking up and in Apr'23, volumes reached 90mmcf nearing the all-time-high in Aug '22 of 93mmcf. YTD imports have increased 11% y/y with the biggest contributor being Qatar covering ~90% of China's imports. Russian volumes have still not picked up, however with the Irkutsk plant finally starting production in May '23, we may see some volumes going to China. Pricing has been on an uptrend since Jan '22 and had touched record levels of US$623/mcf in Feb '23, now standing at US$590/mcf.

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