Asian LPG Price Trend & PDH Margins

Asian LPG Daily Commentary / Brent weakness weighs on Asia LPG prices and swaps / Narrower propane-naphtha spread signals firmer LPG / Formosa Industries (Ningbo) seeks propane cargoes

Jun 02, 2026

Asian LPG prices fell April 1, tracking a $33.20/metric ton decrease in front-month Brent crude futures. CFR North Asia propane at $925/mt and butane at $1,005/mt, both lower than the previous session’s levels of $951.50/mt and $1,031.50/mt, respectively. CFR North Asia propane swaps declined, with the front-month assessed at $773/mt, down from $808/mt the previous day, while second-month swaps were assessed at $697/mt, compared to $730/mt in the prior session. CFR East China propane at $922.50/mt, down $46.50/mt day over day. CFR South China propane at $919.50/mt, down $46.50/mt day over day. According to an industry source in Asia, the ongoing LPG shortage caused by disruptions in the Middle East is expected to tighten propane dehydrogenation margins in April. the CFR North Asia propane versus C+F Japan naphtha swap spread...

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