CFR Far East

The CFR Far East market rose further last week on the back of firmness in crude prices. Rim Asia Index for propane and butane was at $804.13/mt and $809.13/mt respectively as of Sep 21, up $7.75/mt from Sep 17. Nevertheless, spot supply for pure propane was seen to be plentiful in the CFR Far East market. About five 23,000mt propane cargoes for second-half October delivery were apparently traded.

FOB Middle East

The expected October CP was revised up to around $770/mt for propane and butane owing to a rise in crude prices. A 45,000mt propane cargo for Oct 22-26 loading was traded at $778/mt on Wednesday. In addition, a 44,000mt 50:50 cargo for October loading was reportedly traded at a premium of $2/mt to the October CP as well.

Asia Pressurized Market

In the FOB South China market, several sellers offered October loading cargoes at a premium in the high $30's/mt to the October CP. Meanwhile, buyers were waiting for recovery in demand in Southeast Asia and were taking a wait-and-see stance. For loading from Southeast Asia, a refinery in Singapore offered two cargoes for October loading. On delivery to South Asia, spot demand for October delivery to Bangladesh emerged. Talks were heard at a premium of $80-90/mt to the October CP.