US PX Q2 inventories down 16% year over year - NPRA

17 August 2009 22:40  [Source: ICIS news]

HOUSTON (ICIS news)--US inventories of paraxylene (PX) were down 16% year over year in the second quarter, according to data released by the National Petrochemical and Refiners Association (NPRA) on Monday.

Stocks of PX totalled 595bn lb (270m tonnes) in the second three months of 2009, seven buyers and sellers told NPRA.

That level is lower than 712bn lb in second quarter last year, but up 41% from the 421bn lb in storage in the first quarter this year.

The NPRA data mirrors anecdotes from industry sources, who have characterised the US PX market as tight due to companies keeping low inventory levels.

With inventories so low, any disruption in production or sudden increase in buying immediately causes a short supply scenario.

PX production in the second quarter was up 28% from the previous quarter, the NPRA survey said.

Total output was 1,726bn lb in the latest quarter, compared with 1,346bn lb in the first three months of 2009 when the global economy was at its worst point and demand for all chemicals was poor.

PX production and inventory data was compiled by BP, Chevron Phillips Chemical, DuPont, Eastman, ExxonMobil, Flint Hills Resources and Invista.

PX inventories in thousands of pounds

Q2 2008

Q3 2008

Q4 2008

Q1 2009

Q2 2009

712,205

604,429

535,434

421,610

595,047

Source: NPRA

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By: Ryan Hickman
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