US propylene inventories rebound with 7.2% week on week gain

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

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


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