US propylene stocks remain on sharp downfall - EIA
30 March 2011 20:48 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories fell sharply for the second week in a row despite steady operating rates at US refineries, the Energy Information Administration (EIA) said on Wednesday.
Refinery-sourced propylene stockpiles stood at 1.736m bbl in the week ended 25 March, down by 17.3% from 2.100m bbl a week earlier, the EIA said.
The drop last week came on the heels of a 15% slump in the third week of March.
US refineries operated at 84.1% of capacity last week, unchanged from the week ended 18 March, but up from 82% at the beginning of the month.
EIA figures refer to non-fuel use propylene, which is intended for petrochemical manufacturing, including polymer (PGP) and chemical-grade (CGP) propylene.
Refinery-grade propylene (RGP) for March was bid on Wednesday at 72.75 cents/lb ($1,604/tonne, €1,139/tonne) with no offers. RGP traded at 72.50 cents/lb last week.
|
US weekly non-fuel use propylene inventories – m bbl (EIA) | ||||
|
25 Mar |
18 Mar |
11 Mar |
4 Mar |
25 Feb |
|
1.736 |
2.100 |
2.468 |
2.524 |
2.591 |
($1 = €0.71)
For more on propylene visit ICIS chemical intelligence
By: William Lemos
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