Saudi May contract prices for term LPG within expectation

30 April 2014 13:46 Source:ICIS News

SINGAPORE (ICIS)--Saudi Aramco set its May contract prices (CP) for term LPG as expected by the market, traders said on Wednesday.

The CP for propane was at $810/tonne, up by $40/tonne from April, while butane CP dropped by $20/tonne to $825/tonne, according to the traders.

Propane prices were supported by increased demand from Japan and India, the traders stated. However, butane demand was weak because of high CP for April.

The May CPs are high and are expected to damp the demand, importers remarked.

By Fiona Zhu