US propylene stocks drop 7% despite higher refinery rates

19 December 2012 21:49  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by nearly 7% in the second week of December despite higher operating rates at US refineries, data from the US Energy Information Administration (EIA) showed on Wednesday.

US propylene inventories stood at 3.727m bbl in the week that ended on 14 December, down from 4.000m bbl a week earlier.

Refineries in the US operated at 91.5% of capacity last week, up from 90.4% in the previous week, EIA data showed.

Refinery-grade propylene (RGP) for December was bid at 51.50 cents/lb ($1,135/tonne, €863/tonne) on Wednesday. No offers were heard. December RGP was bid at 49.50 cents/lb on Friday.

($1 = €0.76)

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By: William Lemos
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