US propylene inventories up 4% despite lower refinery rates

29 September 2011 12:30  [Source: ICIS news]

LONDON (ICIS)--US propylene inventories rose by 4% in the third week of September despite lower refinery operating rates, according to data made available on Thursday by the Energy Information Administration (EIA).

Propylene stockpiles stood at 3.196m bbl in the week ending on 23 September, up from 3.068m bbl a week earlier, EIA data showed.

The figure is the highest reported by the government since 3.365m bbl in the week ending on 2 July 2010.

EIA figures refer to non-fuel refinery-sourced propylene.

The increase in inventories last week came despite a small drop in operating rates at US refineries, which ran on average at 87.8% of capacity, down from 88.3% a week earlier.

Refinery-grade propylene (RGP) prices have dropped sharply this week. September RGP was heard traded on Wednesday at 55 cents/lb ($1,213/tonne, €898/tonne), down by 14% from 64 cents/lb a week earlier. 

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

23 Sep

16 Sep

9 Sep

2 Sep

26 Aug

3.196

3.068

2.897

2.947

2.347

Percent operable utilisation at US refineries (EIA)

23 Sep

16 Sep

9 Sep

2 Sep

26 Aug

87.8

88.3

87.0

89.0

89.2

($1 = €0.74)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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