Saudi Aramco raises August propane, butane prices to $820/tonne

31 July 2013 05:22  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco announced on late Tuesday that its contract prices for August-delivery propane and butane would both be at $820/tonne free on board (FOB), up by $25/tonne and $30/tonne, respectively, from July prices.

The prices are in line with expectations, market sources said.

The company had sold two cargoes loading in mid-August before the announcement. One cargo, consisting of 33,000 tonnes of propane and 11,000 tonnes of butane, was sold to a Japanese importer at $820/tonne (€615/tonne). The second lot, containing 11,000 tonnes of butane and 33,000 tonnes of propane, was sold to an European trader at $816/tonne for propane and $821/tonne for butane.

($1 = €0.75)

By: Lilian Hua

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