Argus cfr Ningbo Index
Overview
China is 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®) price assessment 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.
The ANI® price assessment series is available in Argus International LPG.
Price assessment details
What is the Argus cfr Ningbo Index® price assessment?
The ANI price assessment meets growing demand for a price that accurately represents conditions in the Chinese market. Argus has worked with companies operating in China to develop a cfr (delivered) Ningbo price, which is published daily in Argus International LPG.
The ANI price assessment is based on 46,000t propane and/or butane refrigerated cargoes. It 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 ANI price assessment must conform to Argus cfr Ningbo contract terms.
The assessment is for cargoes delivered to destination ports 25-40 days forward from the date of assessment.
The Argus cfr Ningbo Index® price assessment series is published daily in Argus International LPG. This service delivers trusted price assessments alongside insightful market commentary, news and analysis.
How is the ANI price assessment used?
Buyers and seller price LPG against the ANI price assessment, plus/minus a differential. It 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 ANI price.
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Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
