MOSCOW (MRC) -- US propane and propylene stocks decreased by 1.7 million barrels (bbl) during the week ended November 29, yielding a total combined inventory of 91.8 million bbl, reported Chemweek with reference to the US Department of Energy.
An OPIS survey of analysts and traders had forecast an average propane and propylene stock draw of 1.73 million bbl.
Combined propane and propylene stocks in Gulf Coast (PADD 3) region decreased by 500,000 bbl to 58.1 million bbl week over week. The Midwest (PADD 2) dropped by 800,000 million bbl to 22.1 million bbl. PADD 1 inventories slid by 700,000 bbl to 7.7 million bbl while PADDs 4 and 5 increased by 200,000 bbl to 3.9 million bbl.
Products supplied for propane and propylene increased this week by 534,000 b/d on the week to 1,773,000 b/d.
Propane and propylene imports week over week saw a decrease of 89,000 b/d to 104,000 b/d, and exports decreased by 471,000 b/d to 839,000 b/d.
US inventories are up 15% from the year-ago period.
Propylene is the main feedstock for the production of polypropylene (PP).
According to MRC's ScanPlast report, the estimated PP consumption in the Russian market in January-October 2019 totalled 1,066,520 tonnes, up by 7% year on year. Supply of block copolymers of propylene (PP block copolymer) and homopolymer of propylene (homopolymer PP) increased, demand for statistical copolymers (PP random copolymer) decreased.
MRC