US propylene inventories move up slightly on soft demand

17 April 2013 21:10  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories increased by 0.6% 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 3.604m bbl for the week ended 12 April, up from stockpiles of 3.582m bbl the previous week.

The increase in inventories came despite US refinery operating rates falling to 86.3% for the week ended 12 April compared with 86.8% a week ago.

Sources said demand for propylene is improving slightly on lower contract prices. However, some buyers are still hoping prices will fall further and are buying at minimum levels.

US refinery-grade propylene (RGP) was heard bid at 45 cents/lb ($992/tonne, €754/tonne) against offers at 52 cents/lb.

($1 = €0.76)

By: John Dietrich

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