LPG: ARGUS CFR Ningbo Index (propane and/or butane)

LPG: ARGUS CFR Ningbo Index (propane and/or butane)

The Argus CFR Ningbo Index (propane and/or butane)

China is now the world’s largest importer of LPG with a market that is expected to continue to grow. With LPG being imported from a range of suppliers, including the Middle East, the US, Australia and Africa, the Argus CFR Ningbo Index (ANI) provides a truly representative Chinese delivered import price.

Argus has also worked with the industry to develop appropriate terms and conditions for a standard supply contract, which can be used when negotiating deals to import LPG into a variety of Chinese ports. The contract can be accessed here.


Advantages of the Argus CFR Ningbo Index

China is now the world’s largest importer of LPG with a market that is expected to continue to grow. With LPG being imported from a range of suppliers, including the Middle East, the US, Australia and Africa, the Argus CFR Ningbo Index (ANI) provides a truly representative Chinese delivered import price.

Key features:

  • The Argus CFR Ningbo Index is based on 46,000t propane and/or butane refrigerated cargoes.
  • The index is based on a wide range of information, including bids and offers, transactions, informed market views and the performance of other related markets.
  • All bids, offers and deals to be included in the Argus CFR Ningbo Index are to conform to Argus CFR Ningbo contract terms.
  • The index assessment is for cargoes delivered to destination ports 25-40 days forward from the date of assessment.

Users of the Argus CFR Ningbo Index

Clients buy and sell LPG priced against the Argus CFR Ningbo Index, plus/minus a differential. The Argus CFR Ningbo Index is used by Chinese importers, trading firms and international producers selling on a delivered basis into China. Chinese importers will also resell LPG to Chinese wholesalers and retailers using the Argus CFR Ningbo Index.

LPG

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