CP in April, 2025 : 610 USD/t (± 0 USD from March)
C3 : USD 615 (± 0 USD from March / C4 : 605 (± 0 USD from March)
The April CP settled at the same price as March. Due to the cold wave, demand in the Middle East and the U.S. remained strong. In Saudi Arabia, the start-up of a new PDH plant led to a reduction in propane exports, with the focus shifting towards meeting domestic demand. Additionally, there were concerns about delays in U.S. shipments due to dense fog forecasts, which intensified the sense of supply-demand tightness. On the other hand, naphtha prices dropped for two consecutive months, so petrochemical butane demand did not increase. In India, the weak buying sentiment due to high LPG inventory also prevented a rise in the April CP. The March WTI average decreased by about $3 per barrel compared to the February average, but prices surged at the end of March. As for our company’s outlook on future CP trends, OPEC+’s additional voluntary production cuts are expected to be reversed starting in April, and with temperatures expected to gradually rise, we forecast a decline in the May CP.
