US propylene inventories fall 4.9% on lower operating rates

09 October 2013 21:32  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 4.9% week on week for the week ended 4 October, according to government data released on Wednesday.

The US Energy Information Administration (EIA) said inventories of non-fuel refinery-sourced propylene fell to 2.979m bbl for the week ended 4 October.

This was a 4.9% drop from inventory levels of 3.131m bbl for the previous week.

Year on year, propylene inventories were 32% lower from 4.406m bbl the week ended 5 October 2012.

Most of the weekly fall in propylene inventories was the result of US refinery operating rates falling to 86.0% from 89.0%.

Propylene inventories had increased four weeks in a row before falling each of the past two weeks, during which PetroLogistics’ Houston propane dehydrogenation (PDH) unit in Texas has been down for maintenance.

The tighter propylene inventories have not moved up prices, as October refinery-grade propylene (RGP) fell to 57 cents/lb ($1,257/tonne, €930/tonne) on 7 October.

($1 = €0.74)

EIA

October 04

September 27

September 20

September 13

Propylene inventories (m bbl)

2.979

3.131

3.137

3.051

Refinery operating rates (%)

86.0

89.0

90.3

92.5


By: John Dietrich
713-525-2600



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