US propylene stocks fall 2.7% despite higher refinery rates

30 January 2013 21:57  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 2.7% last week despite higher operating rates at US refineries, data from the US Energy Information Administration (EIA) showed on Wednesday.

US refineries operated at 85.0% of capacity in the week that ended on 25 January, up from 83.6% one week earlier.

Propylene inventories stood at 2.965m bbl last week, down from 3.046m bbl a week earlier.

US propylene inventories, as reported by the EIA, are at a 16-month low after having dropped by about 20% in the last four weeks.

Refinery-grade propylene (RGP) for February was bid on Wednesday at 68 cents/lb ($1,499/tonne, €1,109/tonne) with no offers. January RGP traded last week at 72.00 and 73.25 cents/lb.

($1 = €0.74)

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By: William Lemos
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