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Surprise draw for weekly US propane, propylene stocks

September 18/2020

MOSCOW (MRC) -- US propane and propylene inventories fell by 1.2 million barrels (bbl) to 96.1 million bbl in the week ended 11 September, reported Chemweek with reference to the Energy Information Administration (EIA)'s statement on Wednesday.

The result stood in stark contrast to expectations for an average build of 1.3 million bbl, based on an OPIS poll published Tuesday.

Exports increased 146,000 barrels per day (b/d) last week to 950,000 b/d. Imports increased 6,000 b/d to 89,000 b/d.

Product supplied, an indicator of implied demand, increased 382,000 b/d to 1.478 million b/d. Refinery and blender net production increased 38,000 b/d to 2.163 million b/d.

Gulf Coast (PADD 3) stocks plunged 2.1 million bbl to 54.9 million bbl. Midwest (PADD 2) stocks rose by 900,000 bbl to 27.3 million bbl. PADD 1 inventories dropped 100,000 to 8.6 million bbl. PADD 4 and 5 inventories increased 100,000 bbl to 5.3 million bbl.

Propane markets were unmoved by the latest round of EIA data. TET propane prices ranged from 50.75Ц51.00 cents/gallon, with non-TET at 50.50Ц51.25 cents/gallon. Conway propane was last seen at 44Ц45 cents/gallon.

Propylene is the main feedstock for the production of polypropylene (PP).

According to MRC's ScanPlast report, overall PP production in Russia increased in January-July 2020 by 24% year on year to 1,063,700 tonne. ZapSibNeftekhim accounted for the main increase in the output.


mrcplast.com
Author:Margaret Volkova
Tags:PP, propylene, gas processing, petrochemistry, Russia, USA.
Category:General News
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