10 January 2014 23:59 [Source: ICIS news]
LONDON (ICIS)--Oversupply in the northwest European small butane cargo market has caused prices to tumble, sources said on Friday.
The value of butane cargoes at 3,000 tonnes or less was assessed at $875-885/tonne CIF (cost, insurance and freight) NWE (northwest Europe) on Friday, down $95/tonne from 3 January.
“On the coasters it’s an overhang of butane available just now. We are coming down. There’s definitely oversupply,” a trader said.
The recent flow of coasters from northwest Europe to Morocco has slowed because of congestion at some Moroccan ports, the trader said.
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