Saudi Aramco Maintains LPG Contract Prices: Propane at $580/Tonne, Butane at $565; China's LPG Imports Surge 46%
Saudi Aramco kept the contract prices for propane and butane, both types of Liquefied Petroleum Gas (LPG), unchanged from the previous month at $580 per tonne for propane and $565 per tonne for butane.
LPG is a hydrocarbon gas that is mainly used as a fuel for vehicles, heating, and as a feedstock for producing other petrochemicals.
The prices set by Saudi Aramco's Official Selling Prices (OSPs) for LPG serve as a benchmark for contracts to supply this product from the Middle East to the Asia-Pacific region.
China, the world's largest consumer and importer of LPG, saw a significant increase of approximately 46% in its LPG imports during March 2023, reaching 3.08 million metric tons compared to the previous month.
This surge in demand can be attributed to the growing usage of LPG as a cleaner alternative to coal and oil for heating purposes, as well as the increasing popularity of LPG as a fuel for vehicles in China.
The prices set by Saudi Aramco's Official Selling Prices (OSPs) for LPG serve as a benchmark for contracts to supply this product from the Middle East to the Asia-Pacific region.
China, the world's largest consumer and importer of LPG, saw a significant increase of approximately 46% in its LPG imports during March 2023, reaching 3.08 million metric tons compared to the previous month.
This surge in demand can be attributed to the growing usage of LPG as a cleaner alternative to coal and oil for heating purposes, as well as the increasing popularity of LPG as a fuel for vehicles in China.
Translation:
Translated by AI
