CFR Far East

　 In the CFR Far East market last week, prices for Japan delivery gained due to strengthening buying interest. As of Sep 4, the Japan Index for propane and butane moved up by $9.75/mt from the previous week to $538.75/mt and $548.75/mt respectively. For Japan delivery, traders were actively seeking 23,000mt propane cargoes and this was cited as a bullish factor. The China Index for propane and butane advanced by $24.50/mt to $598.50/mt and $578.50/mt respectively. Several Chinese players had issued a buy tender and three Canadian cargoes were sold to propane dehydrogenation (PDH) plants in East China. One of the cargoes were supplied by one Japanese importer and it was traded in the $590's/mt.

FOB Middle East

　Discussion levels for 44,000mt 50:50 cargoes were heard at a discount in the $10's/mt to the October CP. One 44,000mt 50:50 cargo was said to have been traded at a discount in the low $10's/mt to the October CP and one Japanese importer seemed to have procured a similar cargo at a discount in the mid $10's/mt to the October CP from one South Korean importer. Other than this, one Indian importer issued a buy tender and two buyers appeared in the market. Buying interest was heightening.

Asia Pressurized Market

　 For South China loading, sellers showed offers at a premium of $45/mt and above to the CP and the possible trading level was said to be at a premium of $40-45/mt to the CP. Demand from the Philippines was improving and sources perceived that buyers might appear in the market. As for supply, Pengerang Refining and Petrochemical(PRefChem) apparently issued a sell tender that would close on Sep 8. Offered was said to be a 2,500mt of LPG cargo for Sep 15-16 loading from Pengerang.