CP in October, 2025 : 485 USD/t (- 20 USD from September)
C3 : USD 495 (- 25 USD from September) / C4 : 475 (- 15 USD from September)
The Far East continued to experience extreme heat, and household/commercial LPG demand remained weak. With OPEC+ maintaining its crude oil production policy, supply stayed ample,
while Chinese buyers refrained from purchasing, leading to weaker LPG demand. As a result, the October CP settled lower than September.
Naphtha prices rebounded, supporting a recovery in petrochemical butane demand. Chinese importers favored US LPG, which capped Middle East CP levels, while US LPG demand remained firm.
In addition, the average WTI price in September declined by USD 0.55 per barrel compared to August.
Looking ahead, we expect LPG demand to be supported by lower temperatures and increased household consumption during India’s upcoming holidays.
Therefore, we forecast that the November CP will rise. (Reference Material：Eneos Weekly Report, Astomos Energy Monthly Report, EIN, RIM)
※Our forecast is only our opinion and do not guarantee CP trends in the future.
