US propylene inventories drop nearly 1% to 5.256m bbl

25 January 2012 19:29  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by nearly 1% in the third week of January along with a small drop in operating rates at the nation's refineries, government data revealed on Wednesday.

The reduction, which put inventories at 5.256m bbl, was the second in as many weeks.

However, the last two drops followed 17 consecutive weekly increases, which took inventories to their highest level on the Energy Information Administration (EIA) database.

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

US refineries operated at 82.2% of capacity last week, down from 83.7% a week earlier, EIA data showed.

Refinery-grade propylene (RGP) for February was bid on Wednesday at 55 cents/lb ($1,213/tonne, €934/tonne) with no offers.

RGP traded last week at 50 and 52 cents/lb for railcar delivery.

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

20 Jan

13 Jan

06 Jan

30 Dec

23 Dec

5.256

5.302

5.633

5.481

5.275


Percent operable utilisation at US refineries (EIA)

20 Jan

13 Jan

06 Jan

30 Dec

23 Dec

82.2

83.7

85.6

85.0

84.2

($1 = €0.77)

For more on propylene visit ICIS chemical intelligence


By: William Lemos
+1 713 525 2653



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