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 ?xml:namespace> 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
Propylene inventories (m bbl)
Refinery operating rates (%)
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