CP in February, 2026 : 542.5 USD/t (+ 20 USD from January)
C3 : USD 545 (+ 20 USD from January) / C4 : 540 (+ 20 USD from January)
From late January, the Far East and the United States were hit by severe cold waves, which increased LPG demand for heating and led to a rise in the February CP.
Petrochemical demand also remained firm, with Chinese PDH plants maintaining operating rates of around 70%.
On the supply side, LPG availability became tight due to loading restrictions in gas-producing countries.
Naphtha prices rebounded and moved higher, improving the price competitiveness of butane for petrochemical use.
Crude oil prices also strengthened as geopolitical risks increased,
driven by factors such as the U.S. military action in Venezuela and the deployment of U.S. aircraft carrier strike groups to the Middle East.
As a result, the January average WTI price rose by approximately USD 2 per barrel compared with December.
Looking ahead, we expect that the impact of severe cold weather in the Far East and the United States, together with ongoing geopolitical risks,
will continue to support the downside of the market. Based on this outlook, we forecast that the CP for March 2026 will rise slightly.
※Our forecast is only our opinion and do not guarantee CP trends in the future.
