US propylene inventories decrease by 0.1% week on week

25 April 2012 21:38  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories remained at October 2011 levels, dropping 0.1% week on week, according to data released by the US Energy Information Administration (EIA) on Wednesday.

US propylene inventories were 3.688m bbl for the week ended 20 April, down by 4,000 bbl from the previous week, according to the EIA.

Levels remain at their lowest for US inventories since the week ended 21 October, when stockpiles were recorded at 3.629m bbl.

US refinery operating rates were up by 0.1 percentage points, to 84.7% for the week ended 20 April compared with 84.6% the previous week. EIA figures refer to non-fuel refinery-sourced propylene.

US refinery-grade propylene (RGP) for April was experiencing thin trading activity on Wednesday, with offers at 64 cents/lb ($1,411/tonne, €1,072/tonne) and no bids heard, as assessed by ICIS.

The most recent deal heard was brokered at 69 cents/lb on 19 April, with prices being pressured down on weaker alkylation values and softer demand.

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

20 April

13 April

6 April

30 Mar

23 Mar

3.688

3.692

3.995

4.140

4.175

 

Utilisation rates at US refineries (EIA)

20 April

13 April

6 April

30 Mar

23 Mar

84.7

84.6

83.8

85.7

84.5

($1 = €0.76)


By: John Dietrich
713-525-2600



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