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)
By: William Lemos
+1 713 525 2653
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