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
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By: David Barry
+1 713 525 2653



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