US propylene stocks drop 2.4%; refinery rates steady

04 January 2013 20:28  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 2.4% in the last week of December while operating rates at US refineries remained steady, data from the US Energy Information Administration (EIA) showed on Friday.

US refineries operated at 90.4% of capacity in the week that ended on 28 December, mostly flat with 90.3% one week earlier, while propylene inventories fell to 3.745m bbl from 3.836m bbl in the previous week.

Refinery-grade propylene (RGP) for January traded at 63.00 cents/lb ($1,389/tonne, €1,070/tonne) on Friday, up from 58.50 cents/lb on Wednesday.

RGP accounts for around 60% of the US propylene market.

($1 = €0.77)

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By: William Lemos
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