CFR Far East

The CFR Far East market gained due to strong crude prices and increasing buying interest. One Japanese trader was seeking a 23,000mt propane cargo for second-half August delivery. Nevertheless, sellers were not seen in the market. For first-half September delivery, one Japanese player seemed to have bought a 46,000mt propane cargo although the price was unknown. Moreover, for first-half September delivery to China, a 22,000mt 50:50 was apparently traded at a premium in the $20's/mt to the September CP. Rim Asia Index for propane and butane was at $704.25/mt and $709.25/mt respectively as of Jul 29, down $42.87/mt from Jul 21.　

FOB Middle East

The August CP was set at $660/mt for propane and $655/mt for butane. The expected September CP was revised up to about $665/mt for propane and $660/mt for butane. Saudi Aramco seemed to have cancelled some term cargoes for August loading to India. Meanwhile, several players such as one South Caucasus oil company and one European trader were apparently interested in buying even-split cargoes.　

Asia Pressurized Market

In the FOB South China market, several importers had room to sell spot cargoes for August loading due to poor sales in the domestic market. Offers from one refrigerated cargo importer were heard at a premium in the high $30's/mt to the August CP. On the other hand, spot demand from traders trying to cover their short-positions for delivery to Southeast Asia was expected. For Southeast Asia delivery, one importer from the Philippines apparently issued a buy tender.