Weekly Mont Belvieu Propane – Butane prices – August 27th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (0.6% and 1.8% down respectively on weekly average):
23rd August: 572.6; 584.9
24th August: 578.8; 587.5
25th August: 578.6; 588.8
26th August: 580.9; 589.0
27th August: 594.8; 598.8
LPG Butane (Mont Belvieu) prices settled below 600 USD/MT after what seemed like a retracement from 576, 2 weeks ago. We expect butane prices to break 600 USD again in the coming week.
On the local side, depots sold for as low as 7.8 Million per MT; the reduction may be due to slow sales at the depots. There has been information on slow sales at the Gas plants across the country; it is not confirmed if slow sales are caused by a glut in the system or customers switching to other seemingly more affordable but dirty fuels like Firewood and Charcoal.
We will be looking forward to sharing how the market responds further to the unsual high prices.