Algeria's Sonatrach has sets its contract price for December-loading butane at $380/mt, down $3/mt month on month, and its propane contract price at $345/mt, down $5/mt, the state-owned company said Thursday.
Sonatrach mostly serves LPG demand in the Mediterranean, but also exports on a spot and contract basis to Northwest Europe and the Americas.
The small decline in both propane and butane contract prices comes despite recent tightening in the west Mediterranean market on the back of limited spot availabilities in the east Med.
On Wednesday, Platts assessed propane at $437/mt FOB West Med, up $17/mt on the day, and butane at $468/mt FOB West Med, up $28/mt on the day and at 106.7% versus physical naphtha, unchanged on the day.
