CFR Far East

The CFR Far East market rose further last week due to firm crude prices. Nevertheless, abundant supply limited the magnitude of the gain. Rim Asia Index for propane and butane as of May 21 was at $340.00 per metric tons (/mt) and $325.00/mt, up $23.00/mt and $18.00/mt respectively from May 15. In the spot market, several sellers were interested in selling pure propane cargoes for second-half June to July delivery to Japan. Spot supply of cargoes containing butane seemed to be plentiful as well. Discussion levels for 23,000mt propane cargoes for second-half June delivery dropped to discount levels to the June CP.　

FOB Middle East

Although Saudi Aramco reduced its term supply quantities for June loading due to a cut in crude oil production, supply/demand of FOB Middle East cargoes was also slack. This was because demand from Indian and Indonesia retreated. Spot prices for June loading fell to a discount of $15-20/mt to the June CP. Nevertheless, the June CP was revised up to $335-340/mt for propane and $320-325/mt for butane on account of increasing crude prices.　

Asia Pressurized Market

For FOB South China, most importers apparently had enough inventories for spot-export and could sell June loading at a premium in the low $40's/mt to the June CP. Nevertheless, buying interest was dull. Firm bids were not heard. Regarding CFR Vietnam, several importers from Haiphong had no plans for spot purchase. This was because domestic sales recently became dull in Vietnam.

Sample Report