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
The CFR Ningbo Index meets growing demand for a price that accurately represents conditions in the Chinese market. Argus has worked with companies operating in China to develop the CFR (delivered) Ningbo price, which is published daily in Argus International LPG.
- 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.