Weekly Mont Belvieu Propane – Butane prices – August 20th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (1% and 1.1% up respectively on weekly average):
16th August: 590.5; 606.7
17th August: 593.3; 612.1
18th August: 598.3; 614.0
19th August: 580.4; 593.3
20th August: 561.1; 576.0
LPG Butane (Mont Belvieu) prices rebounded after hitting a high of 614 USD/MT and settled at 576 at the end of the week of August 20th, 2021. It appears to be a temporary price retracement following Oil prices’ downward trend and uncertainties with the new COVID 19 infections. LPG inventories continue to be lower than previous years and very likely to struggle against demand as we approach winter.
Consequently, on the local side of the market (Nigeria) we donot expect changes in LPG depot or retail prices. We expect a maximum of N8Million naira at the depot and retail prices of between N6000 to N7000 per 12.5kg across the country.