US propylene stocks drop 7%; refinery rates fall to 89.1%

09 January 2013 21:32  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 7% in the first week of January along with a drop in operating rates at US refineries, data from the US Energy Information Administration (EIA) showed on Wednesday.

US refineries operated at 89.1% of capacity in the week that ended on 4 January, down from 90.4% one week earlier, while propylene inventories fell to 3.475m bbl from 3.745m bbl in the previous week.

Refinery-grade propylene (RGP) was bid at 65 cents/lb ($1,433/tonne, €1,089/tonne) on Wednesday with no offers.

RGP for January traded at 66.50 cents/lb on Tuesday.

($1 = €0.76)

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By: William Lemos
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