CFR Far East

　 In the CFR Far East market last week, prices were down in the wake of increasing supply for second-half October delivery. The Rim Asia Index for propane and butane was at $646.50/mt as of Sep 19, down $0.50/mt from Sep 13. The number of sellers having pure propane cargoes for second-half October delivery was gradually increasing in the spot market and 23,000mt propane cargoes were traded at a premium of $3-3.5/mt to October CFR Far East quotations (equivalent to $645-645.5/mt or a premium of $34-34.5/mt to the October CP as of Sep 19) among traders. On the other hand, supply/demand of even-split cargoes was seen to be tight. Pertamina in Indonesia purchased a 22,000mt 50:50 cargo for Oct 5-25 delivery at a premium in the high $60's/mt to the October CP through a buy tender. Sources perceived that the price was equivalent to a premium in the $30's/mt on an FOB Middle East basis.

FOB Middle East

　 The October CP was forecast at about $xx/mt for propane and about $610/mt for butane. Saudi Aramco was said to have released its October loading acceptance. Aramco had apparently requested some customers to change the propane/butane ratio from 44,000mt 50:50 cargoes to 44,000mt 25:75 cargoes. This generated views that propane stocks at Aramco were low. On the other hand, Hindustan Petroleum Corporation Limited (HPCL) closed a buy tender on an FOB Middle East basis on Thursday at 11:00 local time with validity until 19:00 on Friday but results were unclear. Through the tender, HPCL was looking for one 45,000mt 50:50 cargo per month for October to December loading.

Asia Pressurized Market

　On an FOB South China basis, one importer from South China had available cargoes, but it received no buying interest from buyers. Another importer in South China was reported to have sold a cargo for second-half September loading at a premium in the high $60's/mt to the CP. In Southeast Asia, Pertamina was conducting a buy tender for 1,500-2,500mt for October. The result was unclear as of now.