US propylene stocks fall 1.0% on lower operating rates

06 February 2013 20:31  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 1.0% last week as refinery operating rates declined, according to data released by the US Energy Information Administration (EIA) on Wednesday.

US inventories of non-fuel refinery-sources propylene fell to 2.936m bbl for the week ended 1 February, compared with 2.965m bbl the previous week.

Inventories stayed below the 3m bbl level for back-to-back weeks for the first time since early September 2011.

Inventories also reached their lowest since sitting at 2.347m bbl on 26 August 2011.

US refinery operating rates fell to 84.2% for the week ended 1 February, compared with 85.0% the previous week.

Refinery-grade propylene (RGP) for February was done at 73 cents/lb ($1,609/tonne, €1,191/tonne) on Tuesday and was bid at 70 cents/lb on Wednesday.

($1 = €0.74)

By: John Dietrich

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