Weekly Mont Belvieu Propane – Butane prices – July 9th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (1.8% and 1.1% up respectively on weekly average):
5th July: Bank holiday
6th July: 584.7; 579.4
7th July: 565.6; 562.0
8th July: 559.4; 554.1
9th July: 576.7; 566.3
LPG Butane price continues on an upward trend for the week ending July 9th, 2021. LPG Prices increase slowed and may be a signal of the start of a downward trend. Last two weeks ago, a new high of 574 USD/MT was hit and may just be the peak for a long time to come. The new week serves as a confirmation for the continuation of an upward trend or otherwise.
On the local side of the market, the highest depot price of N6.8 Million per 20 MT, in decades, was hit. Retail prices also jumped into the N5000 – N5500 per 12.5kg range – this is not encouraging for a market with a huge growth potential of new users. Let’s see what the new week brings.