Prices of LPG produced by domestic refineries went up in East China, but were still weighed on by relatively steady prices of foreign LPG, a survey found.
Homemade LPG prices were Yuan 5,195-5,300/mt in East China Tuesday, versus Yuan 5,350-5,450/mt of imported products, a estimation showed. Meantime, ex-refinery prices of propane was about Yuan 5,400/mt, higher than Yuan 5,350/mt of ex-terminal price of imported propane.
East China-based LPG importers were inclined to sell at the moment, in view of accumulating stocks, import costs of which were mostly Yuan 4,800-5,400/mt.
"Although LPG sales margins usually become favorable in winter, it is risky for importers to maintain hefty stocks before the season," said an informed source.
Imported LPG inventories in East China are estimated to aggregate over 150,000mt at present, which would receive 85,000mt more in September.
Homemade LPG prices were Yuan 5,195-5,300/mt in East China Tuesday, versus Yuan 5,350-5,450/mt of imported products, a estimation showed. Meantime, ex-refinery prices of propane was about Yuan 5,400/mt, higher than Yuan 5,350/mt of ex-terminal price of imported propane.
East China-based LPG importers were inclined to sell at the moment, in view of accumulating stocks, import costs of which were mostly Yuan 4,800-5,400/mt.
"Although LPG sales margins usually become favorable in winter, it is risky for importers to maintain hefty stocks before the season," said an informed source.
Imported LPG inventories in East China are estimated to aggregate over 150,000mt at present, which would receive 85,000mt more in September.
