SINGAPORE, April 6, 2020 /PRNewswire/ — Global commodity price reporting agency Argus is starting publication of the first price index for the Chinese LPG market, which will be an important tool in bringing transparency to domestic and global industries.
China is the world’s largest consumer of LPG – predominantly propane and butane – accounting for almost a fifth of global demand. Its huge domestic market has traditionally been opaque, offering limited information about trading activity and prices.
Residential cooking and heating make up 35pc of Chinese LPG consumption, with petrochemical production and industrial uses accounting for most of the rest. The new Argus price, the Argus Pearl River Delta Index, covers six areas in Guangdong province, in south China. This region consumes a quarter of the country’s LPG, and demand has been growing fast over the past few years.
The Argus Pearl River Delta…