Weekly Mont Belvieu Propane – Butane prices – August 13th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (2.7% and 2.4% up respectively on weekly average):
9th August: 557.3; 573.0
10th August: 571.5; 585.8
11th August: 583.5; 597.1
12th August: 590.4; 604.3
13th August: 592.3; 609.9
LPG Butane (Mont Belvieu) prices finally breach the dreaded 600 – crossing at 604 and settling at 609 USD/MT. It’s amazing to imagine prices this high at the end of summer – what should we expect in winter? Would prices hit 700 in December? So many questions Traders are asking at these times. We expect the price trend to continue upwards in the coming week.
On the local side of the market, depot prices hit the highest ever at was N8 Million per 20 MT last week.
Retail prices continue to trend around N5500 to N6500 per 12.5kg across the country and we expect a reaction at the retail end across the country , in the coming week.