The increased marked the second consecutive week of gains, bringing the total inventory growth for September to 111,000 barrels.
Meanwhile, trade activity was limited this week. Spot refinery grade propylene inched slightly higher this week with September last heard offered at 47 cents/lb MtB pipe.
September buyers were last heard just under 46 cents/lb MtB pipe. No confirmed trades were heard at time of press.
Mont Belvieu pipe is a delivery point in the US.
Spot RGP values had been stuck between 45-46 cents/lb for several weeks before being assessed Wednesday at 46.25 cents/lb. In production, there was still no word on the start up of Petrologistics new 500,000 mt/year PDH propylene unit at Houston, Texas.
The unit was slated to start up earlier this week but confirmation was not immediately available. Upon reaching full rates, the unit is expected to produce 70% chemical grade propylene and 30% polymer grade propylene.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
