Saudi Aramco hikes Nov propane, butane prices by $55-65/tonne

31 October 2013 02:40  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco is hiking its November contract prices for propane and butane by $55-65/tonne (€40-47/tonne) from October levels, market sources said late on Wednesday.

The company announced to its customers on Wednesday that prices of propane will increase by $55/tonne to $875/tonne FOB (free on board), while those of butane will rise by $65/tonne to $915/tonne FOB, they said.

Saudi Aramco's actual November prices are higher than the market expectations of about $870/tonne for propane and $890/tonne for butane, industry sources said.

The company may be expecting supply tightness after it cut production, while demand may pick up next month, they said.

 ($1 = €0.73)

By: Fiona Zhu
+65 6780 4327

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