Imported and domestically produced LPG fell for the fourth consecutive week across southern and eastern China this week on the back of lower Asian prices and bearish outlook, traders said Friday. 

In the Asian spot market, prices fell to four-month lows on regional supply glut and weaker crude futures Thursday. 

CFR South China refrigerated LPG was assessed at $468/mt for propane and $503/mt for butane, down 6%-7% from last Thursday's $497/mt and $540/mt, respectively, Platts data showed. 

Traders also expect Saudi Aramco to set its June term Contract Prices for propane and butane in the range of $410-$425/mt and $440-$460/mt, respectively, both down from $465/mt and $475/mt for May. 

This also exerted downward pressure on spot prices this week, traders added. 

In China's southern Guangdong province, domestically produced LPG was heard to have traded lower at around Yuan 3,800-Yuan 3,900/mt ($620.96-$637.30/mt) Friday, down Yuan 50/mt from last week. 

Imported LPG cargoes of mixed propane and butane were expected to trade at around Yuan 3,850-Yuan 3,950/mt Friday, also down Yuan 50/mt from last week, local traders noted. 

"Several refineries and small terminals lowered their prices by Yuan 50-Yuan 100/mt for domestically produced LPG Friday morning, which is believed to have put pressure on the price of imported grade," a trader in the Pearl River Delta said, adding that the price of imported LPG was around Yuan 3,850-Yuan 4,000/mt earlier this week. 

"In addition to lower Asian values, ample supply of imported grade and weak seasonal demand also exerted downward pressure on LPG prices," he noted. 

A total of 154,000 mt of imported LPG is expected to arrive in South China's Guangdong province this week, according to shipping data from Beijing-based energy information provider JYD Commodities Hub. 

Although the volume is slightly lower than around 175,000 mt that arrived last week, it is still ample for the market amid weak seasonal demand, said local traders. 

Buying activities were lackluster amid a bearish outlook. 

"We will take a wait-and-see stance and keep inventory at mid-levels in the near term," a trader with a third-tier LPG distributor said.