US propylene stocks drop 8%; refinery rates rise

03 August 2011 18:50  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 8% in the last week of July despite higher operating rates at US refineries, Energy Information Administration (EIA) data revealed on Wednesday.

Refinery-sourced propylene inventories stood at 2.442m bbl in the week ended 29 July, down from 2.662m bbl a week earlier, according to EIA data.

US refineries operated at 89.3% of capacity last week, up from 88.3% in the week ended 22 July, the government said.

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

Refinery-grade propylene (RGP) traded at 69.50 cents/lb ($1,532/tonne, €1,073/tonne) on Wednesday, up from 68 cents/lb last week.

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

29 July	22 July	15 July	8 July	1 July
2.442	2.662	2.682	2.475	2.257

Percent operable utilisation at US refineries (EIA)

29 July	22 July	15 July	8 July	1 July
89.3	88.3	90.3	88.0	88.4

($1 = €0.70)

For more on propylene visit ICIS chemical intelligence

By: William Lemos
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