LPG Prices, Market Analysis & Demand - ChemAnalyst
by Chem Analyst Chemical Database PriceLPG Market price in North America
exhibited a fluctuating trend during the third quarter of 2023. In the initial
half, prices experienced a decline of nearly 6%, primarily attributed to
reduced demand during the off-season. This depreciation was exacerbated by
major industry players such as Aramco and Sonatrach, who slashed LNG prices in
response to the prevailing low demand. However, a noteworthy turnaround
occurred in the latter half of the quarter, with prices rebounding by almost 7%
in September. This resurgence was driven by a surge in demand for Propane,
particularly from Asian markets for Propane Dehydration (PDH) to produce
Polypropylene. Concurrently, disruptions in the supply chain were observed, as
delays and congestion in the Panama Canal, a crucial trade route for LPG
shipments to North America, led to increased transit charges and extended lead
times for product delivery. These supply chain challenges contributed to a
further uplift in prices during the period.
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Created on Dec 27th 2023 03:45. Viewed 162 times.