US propylene inventories down, refinery rates increase - EIA

09 March 2011 21:31  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories were 3% lower during the week ended 4 March, while refinery utilisation rates were up just over 1%, the US Energy Information Administration (EIA) said on Wednesday.

Non-fuel use propylene inventories were at 2.524m bbl, down from 2.591m bbl in the week ended 25 February.

Meanwhile, US refineries operated at rates of 82.0%, up from 80.9% in the previous week.

EIA figures refer to non-fuel use propylene, which is intended for petrochemical manufacturing, including polymer- (PGP) and chemical-grade (CGP) propylene.

The mixed EIA data comes alongside slightly stronger spot prices. Refinery-grade propylene (RGP) spot trading bid/offer levels have moved on either side of the 70 cents/lb ($1,543/tonne, €1,127/tonne) mark this week, compared with prices in the low-to-high 60s cents/lb a week earlier.

US weekly non-fuel use propylene inventories* – m bbl (EIA)
4 Feb	11 Feb	18 Feb	25 Feb	9 Mar
2.671	2.619	2.541	2.591	2.524

Percent operable utilisation at US refineries (EIA)
4 Feb	11 Feb	18 Feb	25 Feb	9 Mar
84.7	81.2	79.4	80.9	82.0

* Non-fuel use propylene, as defined by the Energy Information Administration (EIA), is intended for petrochemical manufacturing including polymer- and chemical-grade propylene

($1 = €0.72)

For more on propylene visit ICIS chemical intelligence

By: Brian Balboa
+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