PKN Orlen's model petchem margin drops to €740/tonne in June

02 July 2012 17:13  [Source: ICIS news]

LONDON (ICIS)--PKN Orlen's model petrochemical margin tumbled to €740/tonne ($937/tonne) in June from €819/tonne in May, the Poland-based group said on Monday.

The figure also fell short of the model margin of €807/tonne recorded for June of last year, it added.

In early June, investment bank WOOD & Company cautioned that the figure Orlen achieved in May of this year was 'spectacular' but may not be sustainable.

The margin peaked at €821/tonne in May 2011, before declining in successive months during the renewed economic downturn in Europe until it reached a trough of €529/tonne in January of this year.

January's figure remains Orlen's lowest model petrochemical margin seen in 2012.

Such a figure is 'unsustainably weak' for the company's petrochemical division, according to WOOD & Company.

($1 = €0.79)

By: Will Conroy
+44 20 8652 3214

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