Southeast Asia LPG purchases restricted on expectations of lower Saudi CPs
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now This has led to rising stockpiles from excess domestic production and higher imports earlier, they said, while demand is also curbed by the COVID-19 pandemic in countries such as the Philippines. With Saudi Aramco due to announce May term CPs by April 30, traders' initial expectations for propane ranged between $460/mt and $500/mt, and butane $20-$30/mt below that. Saudi April propane CPs were set at $560/mt -- the first drop after nine-straight months of increases, while butane ...
Source: spglobal.com