CP in September, 2025 : 505 USD/t (± 0 USD from August)
C3 : USD 520 (± 0 USD from August) / C4 : 490 (± 0 USD from August)
In the Far East, residential and commercial LPG demand remained sluggish due to the extreme heat, while petrochemical demand stayed firm.
As a result, the September CP settled at the same level as in August. The operating rate of PDH plants in China, which was around 55% in May, has recently recovered to about 70%.
In India as well, demand has been solid ahead of the festive season. These factors helped support LPG demand during the off-peak period.
Butane demand, however, continued to be weak, as its price competitiveness remained limited compared to naphtha. The average WTI price in August declined by USD 3 per barrel compared to July.
Looking ahead, we expect that with temperatures gradually falling in October, residential and commercial LPG demand in the Far East will recover, while demand from China and India will continue to rise.
Therefore, we forecast that the October CP will increase. (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.
