US propylene inventories increase 1.4% on higher production

27 February 2013 20:42  [Source: ICIS news]

HOUSTON (ICIS)—US propylene inventories increased 1.4% week on week as refinery production moved higher, according to data released on Wednesday by the US Energy Information Administration (EIA).

The EIA data put US propylene inventories at 2.957m bbl for the week ended 22 February, for non-fuel refinery-sourced material.

Inventories the previous week were 2.917m bbl, the lowest total since 26 August 2011, when stocks were 2.347m bbl.

US refinery operating rates increased to 85.1% from 82.9% a week earlier, helping building up inventories.

Propylene inventories have fallen by 48% from their 2012 peak of 5.633m bbl in the first week of January.

Sources said refinery-grade propylene (RPG) for February most recently traded at 67-68 cents/lb ($1,477-1,499/tonne, €1,137-1,154/tonne).

($1 = €0.77)

By: John Dietrich

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