US propylene inventories fall 1.4% despite higher operating rates

15 November 2012 20:34  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories for the second week of November decreased by 1.4% despite higher operating rates, data from the US Energy Information Administration (EIA) showed on Thursday.

US inventories of non-fuel refinery-sources propylene fell to 4.153m bbl for the week ended 9 November, compared with 4.211m bbl the previous week.

The fall in inventories is the 10th drop in the past 11 weeks, according to the EIA. Only the previous week’s slight rise has gone against the trend.

The fall in inventories came despite operating rates at US refineries increasing to 86.0% from 85.4% the previous week.

US refinery-grade propylene (RGP) was bid at 50.0 cents/lb ($1,102/tonne, €860/tonne) on Thursday, down from a deal done earlier in the week at 50.5 cents/lb.

($1 = €0.78)

By: John Dietrich

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