US PGP, CGP stocks down by 4.5% in Q2 - NPRA

10 August 2007 20:34  [Source: ICIS news]

HOUSTON (ICIS news)--Second-quarter US polymer- (PGP) and chemical- (CGP) grade propylene inventories fell by 4.5% from the first quarter, a trade association said on Friday, which came amid refinery and production issues.

Inventories of PGP and CGP totalled 1.1bn lb (499,000 tonnes), said the National Petrochemical and Refiners Association (NPRA).

Second-quarter co-product propylene production was up by 5.7% to 4.1bn lb from the quarter earlier, NPRA said.

Refinery-sourced propylene production was down slightly by 1.9m lb to an estimated 4.9bn lb, NPRA said. Inventory data was not provided for refinery-grade propylene (RGP).

Contract prices for PGP rose to 53.5 cents/lb in May, from 49.5 cents/lb in April, according to global chemical market intelligence service ICIS pricing. Values then eased to 51.25 cents/lb in June.

Spot prices for RGP fell to 43.5 cents/lb in mid-May from 50 cents/lb at the end of April, but then moved back up to 48 cents/lb by the end of June.

Among the companies providing propylene data were BP, Chevron Phillips, ConocoPhillips, BASF, Dow Chemical and Eastman, the NPRA said.

By: Mark Quiner
+1 713 525 2653

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