10 April 2013 20:59 [Source: ICIS news]
HOUSTON (ICIS)—US propylene inventories fell by 0.9% for the week ended 5 April, according to data released by the US Energy Information Administration (EIA) on Wednesday.
US inventories of non-fuel refinery-sourced propylene dipped to 3.582m bbl for the week ended 5 April, compared with stockpiles of 3.613m bbl the previous week.
US propylene inventories have increased by 23% from the low point of 2013, when they totaled 2.917m bbl for the week ended 15 February.
The increase in inventories is mostly tied to weaker demand for refinery-grade propylene (RGP) as a feedstock to make polypropylene (PP) through polymer-grade propylene (PGP).
Refinery operating rates increased during the week ended 5 April, up to 86.8% from 86.3% a week ago.
US spot RGP for April was bid at 49 cents/lb ($1,080/tonne, €821/tonne) against offers of 51 cents/lb.
($1 = €0.76)
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