Unipetrol polyolefin margin worst since financial crisis took root

12 July 2012 12:59  [Source: ICIS news]

LONDON (ICIS)--Unipetrol has recorded its worst monthly model polyolefin margin since the financial crisis took hold in 2008, the Czech petrochemical producer said on Thursday.

The companys model polyolefin margin in June was €187/tonne ($228/tonne), compared with €235/tonne in May and €286/tonne in June 2011, it added.

Unipetrols model olefin margin in June was €444/tonne, compared with €419/tonne in the previous month and €365/tonne in June 2011, the company said.

Following the onset of the renewed economic downturn across European markets, analysts forecast at the beginning of this year that Unipetrol could experience fresh difficulties in achieving healthy polyolefin margins.

In January, Czech equities house Patria Finance predicted that stagnant export markets in Europe meant that Unipetrol would probably not see its integrated margins move far from the €250/tonne level throughout this year.

Unipetrol is 63%-owned by Polish oil and petrochemicals group PKN Orlen, which last week reported its own substantial decline in petrochemical margins.

($1 = €0.82)

By: Will Conroy
+44 20 8652 3214

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