News Search

News Search

Search Period

  1.  / 
  2.  / 
  4.  / 
  5.  / 

MarketsInternational/Weekly Summary

LPG: Jul 19-21: Prices dive on weak crude prices

CFR Far East

The CFR Far East market dived due to weak crude prices. Discussion levels for 23,000mt propane cargoes for second-half August delivery were heard at a premium of $1-2/mt to August CFR Far East quotations. One Japanese importer seemed to have bought a pure propane cargo for first-half September delivery although details such as the seller and price were unknown. Rim Asia Index for propane and butane was at $656.38/mt and $661.38/mt respectively as of Jul 20, down $28.00/mt from Jul 16. 


FOB Middle East

The expected August CP was revised down to about $630/mt for propane and butane. One Kuwaiti producer could apparently sell a 44,000mt 50:50 cargo or 44,000mt 75:25 cargo for end-August loading. Further, one Japanese importer seemed to have sold a cargo for Aug 10 loading from Yanbu although details such as the propane/butane cargo ratio and price were unknown.


Asia Pressurized Market

In the FOB South China market, one importer offered one or two cargoes for August loading. Its selling ideas were heard in the high $30's/mt to the August CP. On the demand side, buying interest was weak as COVID-19 was spreading and LPG demand in Southeast Asia was decreasing. In Vietnam, one supplier bought two Jul delivery cargoes from one major Vietnamese importer. The supplier did not consider additional purchase since the expected August CP was considerably revised down due to a sharp fall in crude prices on Jul 19.


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