US propylene stocks steady, refinery rates rise to 87.5%

21 November 2012 19:18  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories were mostly steady last week, while operating rates at US refineries rose by 1.5 percentage points, data from the US Energy Information Administration (EIA) showed on Wednesday.

US refineries operated at 87.5% of capacity in the week that ended on 16 November, up from 86.0% one week earlier. Propylene inventories stood at 4.188m bbl, up by just under 1% from 4.153m bbl in the previous week.

Refinery-grade propylene (RGP) for November was bid at 48.00 cents/lb ($1,058/tonne, €825/tonne) on Wednesday, while an offer for December was heard at 51.75 cents/lb.

RGP for November and December traded at 50.50 cents/lb earlier this week.

($1 = €0.78)

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By: William Lemos
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