LPG Contract Price $70/Ton Drop
- CP for February, Propane $800, Butane $805
LPG importing price which has sharply risen is expected to be stabilized in February.
Saudi Arabia¡¯s Aramco informed E1 and SK Gas that February exporting price will be changed to $800/Ton for propane and $805/Ton for Butane. This price is $70/Ton low than January.
The reason why LPG importing price of February has declined largely is because oil price has been stabilized between mid-$80 and early-$90. At the situation that oil price doesn¡¯t rebound, it is know that overseas buyers also does not hurry to buy LPG
Though recent currency which recorded \945/$ is on the upward tendency is unstable element, it is expected that local LPG price for March decreased by \70/Kg because of the reduction of importing price.
This article is from ¡°The Korea Gas News¡±(Jan. 31, 2008)