Prices of butane cargoes for delivery along the Singapore-Japan route over the first half of July slumped $30/mt on the day to a near 21-month low of $709/mt Tuesday, Platts data showed.
Front line CFR butane was last lower on September 23, 2010, when it was assessed at $705/mt.
The slide in butane has come on the back of weak Asia naphtha fundamentals -- Asian naphtha cracks were sent reeling to a 41-month low of $14.03/mt Tuesday -- said LPG trade sources.
Meanwhile, a relatively firm propane -- assessed $10/mt lower on the day to $674/mt -- coupled with a slide in butane also led the H1 July butane-propane spread to slide $20/mt on the day to $35/mt, a near 10-week low.
The last time that the front line butane-propane spread settled any lower was at $10/mt on April 2, data showed.
Led largely by a falling butane, the price of front line CFR Singapore-Japan evenly split product also tumbled $20/mt on the day to a near 21-month low of $696.5/mt Tuesday.
Front line CFR Singapore-Japan 50:50 LPG was last lower on September 23, 2010, when it was assessed at $695/mt.
