US propylene inventories fall 8.3% week on week

31 July 2013 20:42  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell 8.3% week on week for the week ended 26 July, according to government data released on Wednesday.

US inventories of non-fuel refinery-source propylene fell to 2.923m bbl compared with 3.186m bbl the previous week, according to the US Energy Information Administration (EIA).

The decrease accompanied a drop in US refinery utilisation rates to 91.3% from 92.3% the previous week.

Propylene trading during the week has been thin, despite sources saying earlier that demand had slightly improved in mid-July from both the plastics and gasoline sectors.

US propylene inventories are down 40% year on year from the 4.912m bbl for the week ended 27 July 2012.

US refinery-grade propylene (RGP) for July was heard bid at 56.250 cents/lb ($1,240/tonne, €930/tonne) against no fresh offers on Tuesday.

($1 = €0.75)

EIA

July 26

July  19

July 12

July 5

Propylene inventories (m bbl)

 

2.923

 

3.186

 

2.973

 

3.028


Refinery operating rates (%)

 

91.3

 

92.3

 

92.8

 

92.4

 


By: Ken Fountain



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