Iran’s LPG exports are expected to decrease from 556,000 tons in September to 440,000-450,000 tons in October, before rebounding in November. Iran’s LPG exports have been hovering near 500,000 tons/month since July-August, thanks mostly to demand from China. Exports are projected to decline this month as some Chinese propane dehydrogenation (PDH) plants entered maintenance. Shipments are then projected to rebound next month as these plants return to operations.
Market sources said that Iranian LPG at discounts of between $20 and $30 per ton against other Middle Eastern cargoes. Despite Iran’s price advantage, LPG shipments from other Middle Eastern suppliers have been steady. ADNOC and Qatar Petroleum announced acceptances of November-loading term LPG cargoes without cuts or delays. Saudi Aramco is expected to follow suit when it announces its November-loading term cargo acceptances by the weekend.
