US propylene stocks drop 2%, refineries run slower - EIA

26 January 2011 20:14  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories dropped by 2% in the week ended 21 January while refineries continued to run at slower rates, the Energy Information Administration (EIA) said on Wednesday.

Refinery-sourced propylene stockpiles stood at 2.480m bbl, down from 2.531m bbl a week earlier.

Meanwhile, US refineries operated at 81.8% of capacity, down from 83.0% the previous week.

The drop was the third in as many weeks. US refineries ran at 88.0% of capacity in the last week of 2010.

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

Spot PGP was offered on Wednesday at 78 cents/lb ($1,720/tonne, €1,256/tonne) with no bids. PGP for February delivery traded on Monday at 75 cents/lb.

US weekly non-fuel use propylene inventories – m bbl (EIA)

 21 Jan

 14 Jan

 7 Jan

 31 Dec

 24 Dec

2.480

2.531

2.352

2.166

2.189

($1 = €0.73)

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By: William Lemos
+1 713 525 2653



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