US propylene inventories rise 7% to nearly 6-year high

23 November 2011 19:23  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose by 7% in the third week of November, jumping to their highest level in nearly six years, Energy Information Administration (EIA) data showed on Wednesday.

The increase, which put stockpiles at 4.130m bbl, was the 10th consecutive weekly gain for propylene inventories reported by the EIA.

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

The figure last week was the highest on the EIA series since 4.374m bbl during the week that ended on 3 February 2006.

US refinery operating rates also rose last week, climbing to 85.5% of capacity from 84.8% a week earlier, EIA data showed.

Refinery-grade propylene (RGP) was offered on Wednesday at 44 cents/lb ($970/tonne, €718/tonne) against a 41.50 cent/lb bid, but no deals were heard.

RGP traded last week at 44.00-44.50 cents/lb.

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

18 Nov

11 Nov

4 Nov

28 Oct

21 Oct

4.130

3.857

3.786

3.694

3.629

Percent operable utilisation at US refineries (EIA)

18 Nov

11 Nov

4 Nov

28 Oct

21 Oct

85.5

84.8

82.6

85.3

84.8

 ($1 = €0.74)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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