US propylene inventories fall by 4.0% on higher demand

15 May 2013 20:06  [Source: ICIS news]

HOUSTON (ICIS)—US propylene inventories dropped by 4.0% week on week, mostly spurred by increased demand, data from the US Energy Information Administration (EIA) showed on Wednesday.

US propylene inventories for non-fuel refinery-sourced material fell to 3.552m bbl for the week ended 10 May, down from 3.669m bbl the previous week.

With April contract prices dropping 10 cents/lb ($220/tonne, €170/tonne), sources said buyers returned to the market after drawing down inventories for much of March and April.

The decline in inventories came despite an increase in US refinery operating rates, up to 88.0% from 87.0% the previous week.

US refinery-grade propylene (RGP) was heard bid at 51.75 cents/lb on Wednesday against no fresh offers.

($1 = €0.77)


By: John Dietrich
713-525-2600



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly