CFR Far East

　 In the CFR Far East market last week, prices for both Japan delivery moved down due to perceptions of ample supply. As of Oct 9, the Japan Index fell by $27.50/mt and $17.50/mt from the previous week to $473.25/mt for propane and $499.25/mt for butane. There were many sellers having first-half November delivery cargoes of US-origin and this weighed on the market. Many sellers shifted to spot sales for November delivery from second-half October delivery due to weak demand. The CFR China market gained owing to firm demand. The China Index moved up by $23.00/mt and $33.00/mt from the previous week to $541.50/mt for propane and $545.50/mt for butane. The spread between propane and butane prices shrank in the CP prices and a rise in butane prices in the CFR Far East market was larger than that for propane. After the National Day holidays in China, several operators of propane dehydrogenation (PDH) plants moved on spot purchase for November delivery.

FOB Middle East

　Discussion levels for 44,000mt 50:50 cargoes for November loading from the Middle East were unchanged from the previous week at flat to a premium of $8/mt to the November CP. Activity was thin as Chinese players were out of the market for the National Day holidays in China until Oct 8. Qatar Energy was said to have sold a cargo for November loading to an Indian importer recently. Further, Indonesia's Pertamina closed a term buy tender for 2026 on Oct 9 for one 44,000mt 50:50 cargo per month. According to some sources, a Middle East trader affiliated to an Abu Dhabi producer was awarded at a small premium to the CP on an FOB Middle East basis. Some sources felt that the awarded price was relatively high.

Asia Pressurized Market

　On an FOB South China basis, spot discussions were not progressing. Sellers remianed offers at a premium in the $50's/mt to the CP while buying ideas were only heard at a premium of $40/mt to the CP. In Southeast Asia, Malaysian petrochemical maker Pengerang Refining and Petrochemical (PRefChem) seemed to be inactive in spot sale of LPG at the moment.