SPIMEX to limit LPG sales to 10 lots per order amid significant price growth

MOSCOW. June 17 (Interfax) - The St. Petersburg International Mercantile Exchange (SPIMEX) is introducing restrictions by setting a maximum volume to bid on purchasing liquefied petroleum gas (LPG), SPIMEX said.

"A purchase bid does not register in the bid registry if the bid volume for the instrument on the terms of delivery for 'free on board departure station' and 'FOB departure station open tender book' exceeds 10 lots in the bid accumulation procedure and in the 'Bilateral Counter Auction' mode in the 'Petroleum Products' section," according to the statement.

The restrictions apply to most base pricing points for delivery, including the most popular ones, namely Tobolsk, PBA (Automotive Propane-Butane) Surgut, and the Korotchaevo station.

SPIMEX is introducing the restrictive measures amid a significant increase in LPG prices at the beginning of the high consumption season. One tonne costs 16,516 rubles as of today, or 1.6-fold higher than at the beginning of June.