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US Imports Surge 66% m/m in Apr'24

The US imported 38mmcf of helium in Apr'24 and YTD, imports average 26mmcf/m, which is an 80% jump y/y and 66% increase month/month. The US is a net exporter of helium but given the recent dynamics in the helium market, the US seems to be increasing its imports, which can be seen from mid-2023. The US BLM facility has seen weak and variable production in the last few months, which could be another reason for increasing imports. The main surge comes from Algeria, which is possibly exporting more volumes to US instead of Europe given the general oversupply in the market or due to capacity ramp ups in Algeria (there have been expected capacity increases in Algeria, which have been difficult to get updates on). The pricing of these volumes remains in the usual US$350-450/mcf range with YTD to Apr'24 pricing at US$424/mcf (+26% y/y).

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