US propylene inventories rise 6% to 75-month high

07 December 2011 21:57  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories climbed by another 6% in the first week of December, repeating the increase from the previous week and jumping to their highest level in 75 months, Energy Information Administration (EIA) data showed on Wednesday.

The increase put stockpiles at 4.631m bbl, the highest figure on the EIA series since 4.694m bbl during the week that ended on 26 August 2005.

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

US refinery operating rates also rose last week, climbing to 87.7% of capacity against 84.6% a week earlier, EIA data showed.

Refinery-grade propylene (RGP) prices remained on a downtrend this week, pressured by ample supply and continued weak demand downstream.

RGP for December traded at 40.50 cents/lb ($893/tonne, €670/tonne) on Monday, down from deals done at of 41.00 cents/lb in the previous week.

December RGP was offered at 41 cents/lb on Wednesday with no bids.

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

2 Dec

25 Nov

18 Nov

11 Nov

4 Nov

4.631

4.359

4.130

3.857

3.786

 

Percent operable utilisation at US refineries (EIA)

2 Dec

25 Nov

18 Nov

11 Nov

4 Nov

87.7

84.6

85.5

84.8

82.6

($1 = €0.75)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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