CFR Far East

The CFR Far East market rose last week due to a recovery in spot demand for cargoes for August delivery. Rim Asia Index for propane and butane as of Jul 16 was at $358.50 per metric tons (/mt) and $353.50/mt respectively, up $29.25/mt from Jul 10. In the CFR Far East market, prices for September delivery were above those for August delivery. Under this situation, some buyers with bullish sentiments were keen to purchase pure propane as well as even-split cargoes for August delivery.　

FOB Middle East

The expected August CP was revised up to $372/mt for propane and $362/mt for butane due to expectations that supply from Saudi Aramco might be still limited along with a cut in crude oil production. Nevertheless, on the acceptance for August loading, Aramco did not impose quantity restrictions on term cargoes. Further, one Kuwaiti gas producer and one Chinese importer offered cargoes for August loading. Thus, spot supply was plentiful.

Asia Pressurized Market

For FOB South China, With several sellers keen to sell cargoes for August loading, supply was increasing. These sellers seemed to offer at a premium of $33-35/mt to the August CP while no active buyers were seen at present. As for CFR Vietnam, no spot demand emerged yet due to weak domestic demand. Meanwhile, one importer from Haiphong would take term cargoes of 4,000mt per month in July and August without exercising minus tolerance.

Sample Report