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
+1 713 525 2653



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