US stocks of propylene for non-fuel use rose 182,000 barrels to 3.147 million barrels in the week ended May 05, Energy Information Administration data showed Wednesday.
The build put propylene inventories at their highest level in twelve weeks, according to the data.
Sources attributed the build to the end of turnarounds at US Gulf Coast steam crackers and some refineries coupled with weak downstream demand.
Nationwide, refinery run rates last week fell 1.8 percentage points to 91.5%, but greater than the 89.6% rate seen last year at this time, the EIA data showed.
In the spot market, US polymer-grade propylene was assessed 0.75 cent higher Wednesday at 35.75 cents/lb FD USG for May and June deliveries. US spot refinery-grade propylene fell 0.25 cent, assessed at 23 cents/lb FD USG.
