US propylene stocks fall 5.7%; refinery rates at 10-month low

24 January 2013 22:28  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 5.7% in the third week of January, while operating rates at US refineries fell to a 10-month low, data from the US Energy Information Administration (EIA) showed on Thursday.

US refineries operated at 83.6% of capacity in the week that ended on 18 January, down from 87.9% one week earlier.

The figure is the lowest since 82.2% in the week that ended on 16 March 2012.

Propylene inventories stood at 3.046m bbl last week, down from 3.230m bbl a week earlier and the lowest figure reported by the EIA in 16 months.

Refinery-grade propylene (RGP) for January traded at 73.25 cents/lb ($1,615/tonne, €1,211/tonne) on Wednesday, up from a deal done at 69 cents/lb in the previous week.

($1 =  €0.75)

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By: William Lemos
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