CFR prices of LPG were seen firm on robust demand in Asian market, in spite of continuous losses in international crude prices, a survey found.
CFR China prices of propane were assessed at US$636-641/mt Monday, versus US$623-628/mt last Friday, showed some data.
Demand for spot LPG was rising, as the market was in contango, traders said, adding major buyers like Japan were now replenishing stocks of LPG as winter heating fuel.
In addition, Chinese importers may boost LPG imports to fulfill current supply gap in the domestic market, according to the traders.
However, Asia spot LPG prices may not surge in the near term due to sufficient availability, market sources denoted.
WTI crude closed at US$75.24/bbl Monday, slightly down US$0.15/bbl compared to the previous trading day.
CFR China prices of propane were assessed at US$636-641/mt Monday, versus US$623-628/mt last Friday, showed some data.
Demand for spot LPG was rising, as the market was in contango, traders said, adding major buyers like Japan were now replenishing stocks of LPG as winter heating fuel.
In addition, Chinese importers may boost LPG imports to fulfill current supply gap in the domestic market, according to the traders.
However, Asia spot LPG prices may not surge in the near term due to sufficient availability, market sources denoted.
WTI crude closed at US$75.24/bbl Monday, slightly down US$0.15/bbl compared to the previous trading day.
