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.
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