CP in May, 2024 : 582.5 USD/t (- 35 USD from April)
C3 : USD 580 (- 35 USD from April) / C4 : 585 (- 35 USD from April)
CP price in May hit the $500 per ton level for the first time in about six months since last September.
Factors contributing to the decline include the fact that we are entering a period of low demand, that gas-producing countries have begun regular repairs to their LPG plants, but Iran has increased LPG production, and that India’s import demand has decreased.
Another factor is that LPG produced in the United States has flowed into the Far East, and market conditions have eased supply and demand.
Although naphtha prices have fallen slightly, butane prices remain more competitive .
On the other hand, WTI increased by approximately USD 3.8 per barrel in April compared to the March average due to rising oil prices and due to concerns about the expansion of the Gaza conflict into a Middle East war.
In the end, the CP price reduced from May at – 35 USD/t, propane 580 USD/t, butane 585 USD/t, and the price difference between propane and butane is 5 USD/t.
Our view on future CP trends is expected to decrease slightly in June because continuing to be in low demand and demand for imports from India is also decreasing.
(Reference Material：ENEOS GLOBE Weekly Report, Astomos Energy Monthly Report, EIN)
※Our view is only our opinion and do not guarantee CP trends.
