US propylene inventories fall as operating rates decline

14 August 2013 21:23  [Source: ICIS news]

HOUSTON (ICIS)—US propylene inventories fell by 3.3% week on week for the week ended 9 August, according to government data released on Wednesday.

US inventories of non-fuel refinery-sourced propylene fell to 3.038m bbl, according to the US Energy Information Administration (EIA), down from the previous week’s level of 3.141m bbl.

Inventories are down by 41% year on year from 5.172m bbl for the week ended 10 August 2012.

The week-on-week drop in inventories occurred alongside lower US refinery operating rates, which moved to 89.4% for the week ended 9 August from 90.9% a week ago.

Sources said demand for propylene is facing downward pressure because recent high prices are pushing buyers out of the market.

US refinery-grade propylene (RGP) for August was heard offered at 62 cents/lb ($1,367/tonne, €1,025/tonne) against no fresh bids.

($1 = €0.75)

EIA

August 9

August 2

July 26

July 19

Propylene inventories (m bbl)

3.038

3.141

2.923

3.186

Refinery operating rates (%)

89.4

90.9

91.3

92.3


By: John Dietrich
713-525-2600



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