US propylene stocks drop 1%, refinery rates fall slightly
24 October 2012 22:42 [Source: ICIS news]
HOUSTON (ICIS)--?xml:namespace>US propylene inventories fell by 1% last week while operating rates at US refineries fell slightly, data from the US Energy Information Administration (EIA) showed on Wednesday.
US refineries operated at 87.2% of capacity in the week that ended on 19 October, down from 87.4% one week earlier, while propylene inventories fell to 4.221m bbl from 4.270m bbl in the previous week.
The small drop was the eighth consecutive reduction in as many weeks, according to EIA figures.
Refinery-grade propylene (RGP) for November was offered at 48.50 cents/lb ($1,069/tonne, €823/tonne) on Wednesday with no bids.
RGP for October delivery traded at 44.00-44.25 cents/lb last week.
($1 = €0.77)
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