US propylene inventories up 4%, first rise in 10 weeks

21 March 2012 19:35  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories rose by 4% last week to 4.501m bbl in the first increase for stockpiles in the past 10 weeks, Energy Information Administration (EIA) figures showed on Wednesday.

US propylene inventories hit a record 5.633m bbl in the first week of January, but back-to-back drops in the weeks that followed shaved off 23% of that amount.

US refineries operated at 82.2% of capacity in the week that ended on 16 March, down from 82.7% a week earlier, EIA data showed.

Refinery-grade propylene (RGP) for March was bid on Wednesday at 68 cents/lb ($1,499/tonne, €1,139/tonne) against a 69 cent/lb offer. RGP for March traded last week at 67-68 cents/lb.

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

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

16 Mar

9 Mar

2 Mar

24 Feb

17 Feb

4.501

4.326

4.363

4.732

4.768

($1 = €0.76)

 

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By: William Lemos
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