US propylene stocks jump 8% despite refinery rate drop

22 December 2010 21:23  [Source: ICIS news]

HOUSTON (ICIS)--US propylene (PP) inventories jumped 8% in the week ended 17 December despite a drop in operating rates at US refineries, the US Energy Information Administration (EIA) said on Wednesday.

Refinery-sourced propylene stockpiles stood at 2.027m bbl last week, up from 1.875m bbl in the week ended 10 December.

Meanwhile, US refineries operated at 87.7% capacity, down from 88.0% a week earlier, the EIA said.

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

Refinery-grade propylene (RGP) for December was bid on Wednesday at 63.00 cents/lb ($1,389/tonne, €1,056/tonne) with no offers.

RGP for December traded last week at 60.00 cents/lb.
 

US weekly non-fuel use propylene inventories – m bbl (EIA)
17 Dec	10 Dec	3 Dec	26 Nov	19 Nov
2.027	1.875	1.807	1.956	2.090

($1 = €0.76)

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By: William Lemos
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