US propylene stocks jump 10% despite lower refinery runs

13 July 2011 19:58  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose sharply in the first week of July, despite a small drop in operating rates at US refineries, the Energy Information Administration (EIA) said on Wednesday.

Refinery-sourced propylene inventories stood at 2.475m bbl in the week ended 8 July, up by nearly 10% from 2.257m bbl a week earlier, the EIA said.

Meanwhile, US refineries operated at 88.0% of capacity, down from 88.4% in the week ended 1 July, according to the government.

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

Refinery-grade propylene (RGP) was offered at 73.00 cents/lb ($1,609/tonne, €1,142/tonne) on Wednesday against a 68.50 cent/lb bid. RGP was last heard traded at 68.00 cents/lb on 29 June.

Polymer-grade propylene (PGP) traded on Wednesday at 77.50 cents/lb, up from 74.00 cents/lb in the last week of June.

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

8 July

1 July

24 June

17 June

10 June

2.475

2.257

2.365

2.330

2.402


Percent operable utilisation at US refineries (EIA)

8 July

1 July

24 June

17 June

10 June

88.0

88.4

88.1

89.2

86.1

($1 = €0.71)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



AddThis Social Bookmark Button

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