US propylene inventories rise 5% despite reduced refinery rates

05 October 2011 21:31  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose by 5% in the last week of September despite slightly lower refinery operating rates, according to data published on Wednesday by the Energy Information Administration (EIA).

Propylene stockpiles stood at 3.354m bbl in the week ending on 30 September, up from 3.196m bbl a week earlier, EIA data for non-fuel refinery-sourced propylene showed.

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

The increase in inventories last week came despite a small drop in operating rates at US refineries, which ran on average at 87.7% of capacity, down from 87.8% a week earlier.

Refinery-grade propylene (RGP) price ideas have dropped sharply this week.

Bids for October RGP were heard as low as 45 cents/lb ($992/tonne, €744/tonne) against offers at 55 cents/lb.

The most recent deal was concluded at 55 cents/lb one week ago, which was down from a trade at 64 cents/lb a week earlier.

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

30 Sep

23 Sep

16 Sep

9 Sep

2 Sep

3.354

3.196

3.068

2.897

2.947

Percent operable utilisation at US refineries (EIA)

30 Sep

23 Sep

16 Sep

9 Sep

2 Sep

87.7

87.8

88.3

87.0

89.0

($1 = €0.75)

For more on propylene visit ICIS chemical intelligence


By: Samuel Weatherlake
+44 20 8652 3214



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