US propylene inventories up 6%; 11th weekly increase

30 November 2011 20:35  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose by 6% in the last week of November, extending its latest uptrend into the eleventh week, Energy Information Administration (EIA) data showed on Wednesday.

The increase put stockpiles at 4.359m bbl, which the highest figure on the EIA series since 4.374m bbl during the week that ended on 3 February 2006.

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

The increase last week came despite a drop in US refinery operating rates, which fell to 84.6% of capacity against 85.5% a week earlier, EIA data showed.

Refinery-grade propylene (RGP) was offered on Wednesday at 44 cents/lb ($970/tonne, €728/tonne) against a 40.50 cent/lb bid, but no deals were heard.

RGP was last heard traded at 44.00-44.50 cents/lb.

 

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

25 Nov

18 Nov

11 Nov

4 Nov

28 Oct

4.359

4.130

3.857

3.786

3.694

 

Percent operable utilisation at US refineries (EIA)

25 Nov

18 Nov

11 Nov

4 Nov

28 Oct

84.6

85.5

84.8

82.6

85.3

($1 = 0.75)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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