CFR Far East　

The CFR Far East market gained last week due to an increase in buying interest. The Rim Asia Index rose to $492.75/mt for propane and $514.00/mt for butane as of Nov 28, up $12.00/mt and $16.50/mt respectively from Nov 22. Several traders and Japanese importers seemed to have spot demand for pure propane. On the other hand, although several sellers such as one South Korean importer were reported to have room to sell spot cargoes, they apparently expected that demand might increase going forward and took a bullish stance. For butane, spot demand for even-split cargoes of non-US origin emerged early last week. Active sellers for cargoes containing butane for January delivery, however, were hardly seen. Thus, supply/demand of butane was tight.　

FOB Middle East　

With a surge in crude prices late last week, the December CP forecast was revised up to about $425/mt for propane and about $440/mt for butane. In the spot market, both buyers and sellers were inactive in enter talks. Thus, talks were slow to progress. Saudi Aramco was seen to have spot availability for first-half December loading but the producer apparently showed selling interest at a premium level to the December CP. On the other hand, as demand for December was not strong from India and China, only bids for even-split cargoes were heard at a discount of $5-10/mt to the December CP. 　

Asia Pressurized Market

One refrigerated cargo importer in South China could sell spot cargoes for December loading at a premium in the mid $60's/mt to the December CP. On the other hand, buyers were apparently not interested in spot purchase. Nevertheless, with forecasts recently heightening that the January CP might be above the December CP, sources pointed out that some buyers might see merit to buy December loading. Under such circumstances, there were views that deals for December loading might be possible at a premium of $60-65/mt to the December CP.　

Sample Report