27 March 2013 19:39 [Source: ICIS news]
HOUSTON (ICIS)—US propylene inventories fell slightly despite an increase in refinery operating rates, data from the US Energy Information Administration (EIA) showed on Wednesday.
US inventories of non-fuel refinery-sourced propylene fell to 3.346m bbl for the week ended 22 March, down from stocks of 3.354m bbl the previous week.
The fall in inventories came despite US refinery operating rates increasing to 85.7% of capacity compared with 83.5% the previous week.
Propylene inventories had increased each of the previous four weeks. Sources said the increases were likely because of slow demand.
US polymer-grade propylene (PGP) was heard offered at 64 cents/lb ($1,411/tonne, €1,101/tonne) against no bids.
($1 = €0.78)
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