News Search

News Search

Search Period

  1.  / 
  2.  / 
  4.  / 
  5.  / 

Weekly SummaryMarkets/International

LPG: May 11-15: Prices surge late last week

CFR Far East

In the CFR Far East market late last week, CFR Japan prices surged due to increasing buying interest and rising crude prices. Rim Asia Index for propane and butane as of May 14 was at $322.50 per metric tons (/mt) and $302.50/mt, up $9.75/mt and $23.75/mt respectively from May 8. Several buyers felt that prices were reasonable and moved to buy pure propane cargoes. Meanwhile, regarding cargoes containing butane, one Japanese importer apparently bought a 44,000mt 50:50 cargo for second-half June delivery from one European trader. The price, however, was unknown.


FOB Middle East

On June loading, a sell tender issued by Qatar Petroleum for the Sale of Petroleum Products Company Limited (QPSPP) seemed to be awarded to one European trader at a discount of $7-11/mt to the June CP. Through the sell tender that had closed on May 13 with bids valid until May 14, QPSPP was trying to sell a 45,000mt 50:50 cargo for Jun 18-20 loading. Before the tender, QPSPP seemed to have sold a 44,000mt 50:50 cargo for Jun 3-4 loading at a discount in the mid $10's/mt to the June CP. Meanwhile, the June CP was forecast to be $xxx/mt for propane and $xxx/mt for butane.


Asia Pressurized Market

For FOB South China, although talks for first-half June loading had yet to pick up speed, some buyers apparently pondered purchasing at a premium in the high $30's/mt to the June CP. Regarding CFR Vietnam, discussion levels for second-half May delivery were heard at a premium of $100-105/mt to the May CP. Nevertheless, with views that the June CP might be below the May CP, most buyers with bearish sentiments seemed not to be keen on purchasing for this timing.


Sample Report 

Tokyo : LPG Team  Shiga   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.