The price for FCA propane, which is loaded on trucks and railcars, was assessed to be in the low $590's/mt at the beginning of the last week in August based on Platts data, but since then spot prices have risen by $105/mt to reach a last published level of $697.5/mt.
FOB propane loaded on barges has seen a similar increase over the same period moving up by $110/mt from the high $580's/mt to a last published level of $697.5/mt, again based on Platts data.
This sharp upward movement in prices has taken place despite low buying interest from the important German market where distributors have covered most of their spot requirements from local refineries. "The flat demand we have is covered by the German refineries," commented one trader.
However, for those who have had to buy in ARA, sources said that spot availability was currently meager with little product on offer from refineries in Rotterdam and Antwerp.
The tightness in supply has then been further accentuated by limited terminal availability with the AGT terminal in Antwerp reported by sources to be on low stock levels.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
