06 March 2013 20:56 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories gained just 0.2% week on week, according to data released on Wednesday by the US Energy Information Administration (EIA).
US inventories of non-fuel refinery-sourced propylene increased to 2.963m bbl for the week ended 1 March, up from 2.957m bbl the previous week.
US propylene inventories have been below 3m bbl for six consecutive weeks, the first time that has happened since August and September of 2011.
The increase in inventories came despite US refinery operating rates falling to 82.2% for the week ended 1 March, down from 85.1% the previous week.
Sources said refinery-grade propylene (RGP) bid/offer levels were heard at 62-67 cents/lb ($1,367-1,477/tonne, €1,052-1,137/tonne) on Wednesday.
($1 = €0.77)
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