US propylene stocks fall 7%, refinery rates drop to 87.9%

16 January 2013 20:55  [Source: ICIS news]

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

US refineries operated at 87.9% of capacity in the week that ended on 11 January, down from 89.1% one week earlier, while propylene inventories fell to 3.230m bbl from 3.475m bbl.

RGP inventories are down by 39% from 5.302m bbl one year earlier, according to EIA figures.

Refinery-grade propylene (RGP) for January traded at 69 cents/lb ($1,521/tonne, €1,141/tonne) on Tuesday, up from deals done at 64.00-68.00 cents/lb last week.

RGP prices have risen by nearly 40% in the past four weeks on stronger demand and reduced supply.

($1 = €0.75)

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By: William Lemos
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