Marketing News

US propylene inventories slip, close at 2.56 million barrels: EIA

US propylene inventories continued to shrink this week, falling roughly 9% to 2.566 million barrels for the week ending August 13, according to data posted by the Energy Information Administration (EIA).

Inventories shed 255,000 barrels to close the week, following a drop of 216,000 barrels the week ending August 6.

Meanwhile in spot, the spread between RGP and PGP continued to hover just above 13 cents/lb this week as RGP slipped. Since the beginning of August, the differential has widened by 2 cents but is still far off the roughly 30 cents/lb spread back in early April, when spot PGP prices were close to 80 cents/lb.

Historically, the spread between RGP and PGP has been closer to 3 cents/lb. In mid-February the gap widened as lower refinery rates, steam cracker operators’ preference for lighter feeds, and limited splitter capacity to convert RGP into PGP contributed to higher PGP values.

August spot RGP was last heard traded at 43.75 cents/lb MtB pipe earlier this week. Spot PGP continued to hover near 57 cents/lb MtB pipe with offers last heard at 58 cents/lb MtB pipe against bids at 56 cents/lb MtB pipe.

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About Jorry

Sales Director of Henan Harvest Chem Co.,Ltd

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Contact me:

adminMr. Jorry Zhang
Current position: Sales manager of Henan Harvest Chem Co.,Ltd
Website:  www.hnharvest.com
Cell: +86-15803826779
Tel: +86-371-86058571
Fax: +86-371-65350610
Email: Jorry@hnharvest.com
Welcome to send emails to me  for more information!

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