US market prices of propylene have fallen by 6 percent in the past week, as demand for its monomer reduced. Prices of refinery grade propylene (RGP) on April 13 stood at 52.50 cents / pound (US $1,157 / ton) extended the declining trend from April 5 when the price fell to 56.00 cents / pound.
Market participants also pointed out that steady supply was another factor behind price decline. As of April 2, weekly RGP stock in the United States rose nearly 8 percent over a week ago to 2.349 million barrels, reflecting that the operating rate of US refineries steadily grew in recent weeks.
According to data from the U.S. Energy Information Administration (EIA), as of April 2, refinery capacity rate averaged at 84.5 percent in the week, while it was 82.6 percent in the previous week, and 80.5 percent in mid- March.
RGP is main source for production of chemical propylene (CGP) and polymer grade propylene (PGP). 60 percent of propylene production in the US came from refinery grade propylene in 2009.
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