US propylene stocks drop 8%, reach lowest level since April

28 July 2010 20:15  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by more than 8% in the week ended 23 July, while US refinery utilisation rates were off by a percentage point, the US Energy Information Administration (EIA) said on Wednesday.

Refinery-sourced propylene stockpiles last week stood at 2.886m bbl, down from 3.143m bbl in the week ended 16 July.

The latest inventory levels were the lowest since the EIA reported 2.773m bbl in stock during the week ended 16 April.

US refinery-grade propylene (RGP) spot prices plunged in April amid increasing supply.

US refineries last week operated at 90.6% of capacity, the third consecutive week when refineries operated above 90%.

Non-fuel use propylene, as defined by the EIA, is intended for petrochemical manufacturing, including polymer and chemical-grade propylene.

US weekly non-fuel use propylene inventories – m bbl (EIA)
25 June	2 July	9 July	16 July	23 July
3.224	3.365	3.128	3.143	2.886

Percent operable utilisation at US refineries (EIA)
25 June	2 July	9 July	16 July	23 July
88.4	89.8	90.5	91.5	90.6

For more on propylene visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: David Barry
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly