US propylene stocks drop 4.6%, refinery runs up

07 July 2011 20:49  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 4.6% in the last week of June despite slightly higher operating rates at US refineries, the Energy Information Administration (EIA) said on Thursday.

Refinery-sourced propylene inventories stood at 2.257m bbl in the week ended 1 July, down from 2.365m bbl a week earlier, the EIA said.

US refineries operated at 88.4% of capacity last week, up from 88.1% in the previous week, according to the government.

EIA figures refer to non-fuel use propylene, which is intended for petrochemical manufacturing.

The propylene market was quiet on Wednesday. Refinery-grade propylene (RGP) was bid at 67 cents/lb ($1,477/tonne, €1,034/tonne) against a 70 cent/lb offer. RGP for July traded at 67.50 and 68.00 cents/lb last week.

US weekly non-fuel use propylene inventories – m bbl (EIA)
1 July	24 June	17 June	10 June	03 June
2.257	2.365	2.330	2.402	2.449

Percent operable utilisation at US refineries (EIA)
1 July	24 June	17 June	10 June	03 June
88.4	88.1	89.2	86.1	87.2

($1 = €0.70)

For more on propylene visit ICIS chemical intelligence

By: William Lemos
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