US propylene inventories rise 3.4% to 33-month high

19 October 2011 22:28  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose by 3.4% in the second week of October to their highest level since January 2009, Energy Information Administration (EIA) data revealed on Wednesday.

Propylene stockpiles stood at 3.536m bbl in the week that ended 14 October, up from 3.421m bbl a week earlier, EIA data showed.

The figure is the highest reported by the government since 3.563m bbl in the week ended 30 January 2009.

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

The increase in inventories came despite another drop in operating rates at US refineries, which last week fell for the fourth week in a row to 83.1% of capacity.

Refinery-grade propylene (RGP) prices continued to drop this week, pressured by ample supply and softer demand.

RGP for October traded on Tuesday at 44–45 cents/lb ($970–992/tonne, €698–714/tonne), down from 46–48 cents/lb last week.

The product was bid on Wednesday at 44.50 cents/lb with no offers.

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

14 Oct

07 Oct

30 Sep

23 Sep

16 Sep

3.536

3.421

3.354

3.196

3.068

Percent operable utilisation at US refineries (EIA)

14 Oct

07 Oct

30 Sep

23 Sep

16 Sep

83.1

84.2

87.7

87.8

88.3

($1 = €0.72)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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