Based on Platts data, FOB prices have climbed by $150/mt since the beginning of October, moving up from the high $670s to a last published level of $827.5/mt.
This is the highest price for FOB coaster butane prices since the middle of September 2008, according to Platts data.
Spot availability of FOB butane coaster lots, which are typically 1,000-3,000 mt in size, is currently reported to be very tight with few refinery tons on offer, leaving any potential demand to be mostly met by product from east coast UK terminals.
"It is difficult to find anything," commented one trading source.
Statoil confirmed Monday buying 1,900 mt from Sabic FOB Teesside loading November 2-4 at $830/mt.
The tightness in butane availability in Northwest Europe has been further exacerbated by the ongoing strike which has halted exports from the French Mediterranean port of Lavera. There is also very little product on offer from the Spanish Mediterranean or the Italian islands.
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