US propylene inventories rebound despite lower production

07 August 2013 20:10  [Source: ICIS news]

HOUSTON (ICIS)—US propylene inventories increased by 7.4% week on week for the week ended 2 August despite lower production rates, according to data made available on Wednesday.

In its weekly report, the US Energy Information Administration (EIA) said US inventories of non-fuel refinery-sourced propylene were 3.141m bbl, up from the previous week’s level of 2.923m bbl.

It is the third consecutive week inventory levels have changed direction despite consistently declining US refinery operating rates.

US refinery operating rates were at 90.9% for the week ended 2 August, down from the previous week’s rate of 91.3%.

US propylene inventories are down by 37% year on year from 4.967m bbl the week ended 2 August 2012.

August spot prices for refinery-grade propylene (RGP) were heard bid at 59 cents/lb ($1,301/tonne, €976/tonne) against offer levels at 62 cents/lb.

($1 = €0.75)

EIA

August 2

July 26

July 19

July 12

Propylene inventories (m bbl)

3.141

2.923

3.186

2.973

Refinery operating rates (%)

90.9

91.3

92.3

92.8



By: John Dietrich
713-525-2600



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