Saudi Aramco cuts October propane, butane prices by $25-30/tonne

30 September 2013 04:59  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco announced on Monday that it has cut its October contract prices for propane and butane by $30/tonne (€22.20/tonne) and $25/tonne respectively, from September's levels.

Saudi Aramco’s October contract price on an FOB (free on board) basis for propane is at $820/tonne, while that for butane is at $850/tonne, the company said.

The decreases were smaller than expectations, market sources said.

High inventory and weak demand were major reasons behind Saudi Aramco’s price cuts, the sources said.

($1 = €0.74)

By: Fiona Zhu
+65 6780 4327

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