CFR Far East

The CFR Far East market gained last week due to strong crude prices. For second-half November delivery, early last week, two 23,000mt propane cargoes were traded at $905/mt and $902/mt respectively. Further, late last week, one similar cargo was traded at $897/mt. Rim Asia Index for propane and butane as of Oct 21 was at $899.00/mt and $879.00/mt respectively, up $11.50/mt from Oct 15.　

FOB Middle East

The November CP was expected at around $855/mt for propane and around $835/mt for butane. Regarding November loading, one Japanese importer apparently sold a 44,000mt 50:50 cargo for November loading to one petrochemical player in China on a CFR North China basis. Further, one Indian importer reportedly procured a 45,000mt 50:50 cargo for December loading from the Middle East at a premium of $1/mt to the December CP via a buy tender.

Asia Pressurized Market

For the FOB South China market, some importers apparently offered cargoes for first-half November loading at a premium in the high $30's/mt to the November CP. For the FOB Southeast Asia loading, one Chinese importer bought a cargo for October loading from one Chinese petrochemical player operating a refinery in Brunei.