US propylene inventories rise by 2% to near two-year high

13 October 2011 19:47  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose by 2% in the first week of October despite lower refinery operating rates, Energy Information Administration (EIA) data showed on Thursday.

Propylene stockpiles stood at 3.421m bbl in the week that ended 7 October, up from 3.354m bbl a week earlier, according to the EIA data.

The figure is the highest reported by the government since 3.434m bbl in the week ending 15 January 2010.

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

The increase in inventories last week came despite another drop in operating rates at US refineries, which ran on average at 84.2% of capacity, down from 87.7% a week earlier.

Refinery-grade propylene (RGP) prices have dropped sharply in recent weeks. October RGP traded on Tuesday at 46.00 cents/lb ($1,014/tonne, €730/tonne), down from 67.50 cents/lb a month earlier.

The drop stems from ample supply and weaker demand for the US monomer.

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

07 Oct

30 Sep

23 Sep

16 Sep

9 Sep

3.421

3.354

3.196

3.068

2.897

Percent operable utilisation at US refineries (EIA)

07 Oct

30 Sep

23 Sep

16 Sep

9 Sep

84.2

87.7

87.8

88.3

87.0

($1 = €0.72)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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