China Aug LPG market sees ample supply,demand recovery to be slow

摘要

SINGAPORE(ICIS)--China's domestic liquefied petroleum gas(LPG)prices generally hovered around yuan(CNY)3,000/tonne in August,amid ample supply and weak summer demand for fuel LPG.Moving into September,demand for fuel LPG is likely to pick up slowly amid falling temperatures,especially in the northern parts of China.Meanwhile,cost-side support,peak consumption season in the fourth quarter and optimistic expectations about the market may bolster downstream buying sentiment.On 31 August,Saudi Aramco announced its September contract price(CP),with propane staying at $365/tonne and butane at $355/tonne,up by $10/tonne month on month,putting heavy cost pressure on Chinese importers.