24 July 2013 20:12 [Source: ICIS news]
HOUSTON (ICIS)—US propylene inventories rebounded from a four-month low with a 7.2% week on week gain for the week ended 19 July, according to government data released on Wednesday.
US inventories of non-fuel refinery-sourced propylene climbed to 3.186m bbl compared with 2.973m bbl the previous week, according to the US Energy Information Administration (EIA).
The rebound came despite US refinery utilisation rates falling to 92.3% from 92.8% the previous week.
Sources said propylene demand has been slightly improved in mid-July from both the plastics and gasoline sectors.
US propylene inventories are down by 31% year on year from 4.647m bbl for the week ended 20 July 2012.
US refinery-grade propylene (RPG) for July was heard bid at 56.5 cents/lb ($1,246/tonne, €947/tonne) against no fresh offers on Wednesday.
($1 = €0.76)
EIA ?xml:namespace> July 19 July 12 July 5 June 28 Propylene inventories (m bbl) 3.186 2.973 3.028 3.218 Refinery operating rates (%) 92.3 92.8 92.4 92.2
Propylene inventories (m bbl)
Refinery operating rates (%)
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