03 August 2012 11:55 [Source: ICIS news]
SINGAPORE (ICIS)--Propane spot prices in ?xml:namespace>
Saudi Aramco raised its August propane contract price by $200/tonne (€164/tonne) to $775/tonne FOB (free on board) on 31 July, traders said.
The spot prices of propane were CNY6,550-6,700/tonne in east
Market sources said that Saudi Aramco’s September contract prices are expected to rise further on firming crude prices, which will increase importing costs in
Most buyers are therefore increasing their purchases now, traders said.
“We predict that prices will rise further. So, we are speeding up our purchase now, otherwise, we may have to pay higher [prices later],” said a Zhejiang-based trader.
“Sales are fast these days,” said a Shandong-based trader.
($1 = CNY6.37)
($1 = €0.82)
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