Czech crude imports Jan-Mar 2025

Imports of Russian crude into the Czech Republic dropped from 1.839 million tons in the first quarter in 2024 to 1.433 million tons in the first quarter this year.  Azerbaijan increased crude shipments to the Czech Republic to 656,200 tons against 595,800 tons.  Due to further interruptions of crude deliveries via the Druzhba pipeline in March, the Czech government released about a third of its strategic reserves to Unipetrol.  Russian crude accounted for 42% of the Czech Republic’s oil imports last year but is expected to be phased out completely in 2025. 

The Czech Republic officially announced that it had ended its 60-year dependence on Russian oil in April this year.  It marks the end of a process that has been ongoing since Russia's invasion of Ukraine, and which aimed to break with fuel from Moscow. Previously, the Czech Republic was dependent solely on the Druzhba pipeline, which was put into operation in the 1960s.

Hungarian crude imports Jan-Mar 25

Hungary imported a total of 1.238 million tons of crude from Russia in the first quarter in 2025 against 1.278 million tons in 2024.  In total crude imports dropped from 1.362 million tons in the first quarter last year to 1.307 million tons.  The geopolitics behind Hungary’s purchasing strategy of Russian crude are leading to unexpected developments such as the extension of the Druzhba pipeline to the Serbian refinery at Pancevo. 

MOL signed a wide-ranging cooperation agreement in December with KazMunayGaz, seeking opportunities in Kazakh upstream sector and oil exports to Hungary.  This agreement covers oil and gas exploration and production, technology transfer, crude oil supply, and petrochemicals.  MOL is also looking at possible exports of Kazakh crude to Europe and Hungary.

 MOL’s refining margins remained unchanged in the first quarter from the fourth quarter last year, standing at $3.6 per barrel, but down from €10.3 per barrel in the first quarter in 2024. 

Polish crude imports Jan-Mar 2025

From the total of 4.287 million tons of crude imported into Poland in the first quarter, supplies from Saudi Arabia totalled 2.776 million tons followed by Norway which provided 703,300 tons.     Other supplies came from the US, UK and Nigeria.  Future supplies from the US are uncertain against the background of US tariff policy.  Average prices for Polish crude purchases increased from $539.7 per ton in January last year to $560.0 per ton.  Orlen's model refining margins have been gradually declining in the past year, with prices averaging $8.4 per barrel in March against $16.8 in March 2024.  Orlen’s model margins are higher than MOL’s average feedstock cost, although both groups calculate their margins using different factors.  Orlen’s refining margin rose to $9.6 per barrel in April. 

Polish petrochemical production Jan-Mar 2025

Ethylene production in Poland dropped from 90,100 tons in January to March last year to 70,500 tons in January to March 2025 as Orlen reduced cracker utilisation.  At the same time Polish propylene production rose from 91,900 tons to 102,100 tons where volumes were boosted by the Polimery Police plant.  Butadiene production at Plock dropped to 14,629 tons from 14,553 tons last year.  Nearly all of the butadiene produced at Plock is consumed by Synthos.

In the plastics sector polyethylene production in Poland amounted to 72,500 tons in January to March 2025 versus 80,400 tons in January to March 2024.  By contrast, polypropylene production increased from 82,700 tons to 121,100 tons due to additional output from the Police plant.  PVC production at Wloclawek decreased from 57,600 tons to 30,400 tons. 

MOL petrochemical production Jan-Mar 2025

MOL increased production of ethylene to 171,000 tons in the first quarter at its two sites at Tiszaujvaros and Bratislava against 141,000 tons in the same period last year whilst propylene increased from 73,000 tons to 89,000 tons.   Butadiene and raffinate production at Tiszaujvaros fell from 20,000 tons to 15,000 and from 48,000 tons to 26,000 tons respectively. 

Central European petrochemical margins

Petrochemical margins for both Orlen and MOL were very low in the first quarter, amounting to €145 per ton and €151 per ton respectively.  Both companies reported margins of €209 per ton in the comparative first quarter last year.  Petrochemical margins for MOL dropped to €151 per ton in the first quarter this year against €209 per ton in the first quarter last year and €167 in the fourth quarter.  The decline in margins was reflected in the minus EBITDA result for the petrochemical division despite the improvement in product sales.

First quarter margins reflect the overall mood in European petrochemicals which are struggling to cope with high energy prices and competition from newer plants in Asia and the Middle East. The model petrochemical margin for Orlen rose in April to €229 per ton compared to €195 per ton in December, but €262 per ton in Apil last year.  

Orlen’s model petrochemical margin is calculated on the basis of revenues from HDPE, PP, ethylene, toluene, benzene, naphtha, LPG and CO2 costs. 

Margins for petrochemical products in Central Europe faced significant pressures in 2024 even if prices held in line with recent historical averages.  One of the main problems for margins in Europe is energy costs which remain higher than before Russia’s invasion of Ukraine in 2022.  Moreover, the petrochemical industry is witnessing newer plants being built in other regions.

Olefin-Olefiny III merger

The first notification of shareholders of the intention to merge Orlen with Orlen Olefiny sp. z o. o.   Orlen Olefiny is a special purpose vehicle established in 2021 to raise financing and undertake a project designated as Olefiny III Project, where Orlen holds 100% of shares.  The merger between Orlen and Orlen Olefiny will be conducted through transfer of all assets and liabilities of Orlen Olefiny target company) to Orlen (acquiring company), without the necessity to increase the company's share capital or amend Orlen's Articles of Association in connection.

Orlen and Orlen Olefiny agreed in writing on the merger plan.  The Merger requires resolutions of general meetings of the merging companies. To adopt the Merger Resolution, the Company will convene the general meeting, for a date not earlier than 2 June 2025.

Orlen suspended the Olefiny III investment at the end of 2024 due to escalating costs and medium-term doubts about the European petrochemical markets.   In order not to lose what has already been done, Orlen’s current management has recalibrated into a new project name Nowa Chemia.  As part of the new project the old olefin unit at Plock will shut after 2030, and be replaced by a new, less carbon-intensive and less energy-intensive unit.  Previously it was assumed that both units would operate but dual-unit production is now seen as creating oversupply.  Apart from increasing polymer production Nowa Chemia will also enable the use of recycled feedstock, which is to be a step towards the so-called green petrochemicals.

HIP-Petrohemija first quarter 2025

HIP-Petrohemija in Pancevo has successfully completed a planned shutdown aimed at the implementation of investment projects and regular plant maintenance activities.   This is the third overhaul since June 2023, i.e. since HIP-Petrohemija became part of the NIS Group, and in which Petrohemija is working on projects to increase reliability and increase energy efficiency.

Polish propylene imports, Jan-Mar 2025

Poland imported 24,545 tons of propylene in January to March this year against 28,613 tons in the same period last year.  At the same time Poland exported 8,379 tons of propylene, supplied by Grupa Azoty Polyolefins from the Polimery Police plant.  In the first quarter this year Germany was the main supplier to Poland, shipping 19,362 tons against 13,994 tons in January to March 2024.  Average import prices increased from €829.3 per ton to €960.4 in January to March 2025. 

Polish butadiene imports, Jan-Mar 2025

Butadiene import prices for Poland rose from €745.0 per ton on average in the first quarter last year to €932.9 in January to March 2025, with import volumes rising from 24,263 tons to 29,243 tons.   Synthos is the major importer of butadiene in Poland.   Germany was the largest supplier in the first quarter, shipping 12,630 tons against 4,361 tons last year.  The increase in butadiene imports in 2024 into Poland was driven primarily by the increase in synthetic rubber production at Oswiecim, rising from 20,300 tons in January last year to 25,300 tons this January.

Hungarian propylene & butadiene imports, Jan-Mar 2025

Exports of propylene from Hungary amounted to 23,731 tons in January to March 2025 against 30,342 tons in 2024, with shipments to Slovakia dropping from 30,342 tons to 18,714 tons.  Prices averaged €1076.1 per ton in the first three months against €1047.5 per ton in the same period in 2024. 

Hungarian butadiene exports dropped to 7,107 tons in the first quarter in 2025 against 17,466 tons in the same period in 2024.  Shipments into Poland dropped from 17,466 tons in January to March 2024 to 5,079 tons whilst exports to Germany dropped to zero from 3,959 tons in the same period in 2024.  Average prices for Hungarian butadiene exports increased to €948.8 per ton versus €751.5 in 2024.

Czech olefin monomer trade, Jan-Mar 2025

Czech propylene imports amounted to 20,815 tons in January to March 2025 against 8,516 tons in January to March last year.  Imports came from Germany and Poland.  Shipments from Poland increased to 8,380 tons in the first quarter this year from only 20 tons last year, which was mainly due to the extra availability from the Polimery Police plant.  Butadiene imports amounted to 17,627 tons in January to March, rising from 12.906 tons last year.

Ethylene exports from the Czech Republic amounted to 4,191 tons in the first quarter this year, up from 2,050 tons last year whilst propylene dropped from 3,053 tons to just 28 tons.  Orlen Unipetrol started a planned turnaround at Litvinov on 11 April which is expected to last for around two months.  During the two-month operational shutdown, the petrochemical plant will undergo regular maintenance and modernisation of technologies, along with th?e implementation of investment projects. It is expected that the petrochemical production technologies will be put back into operation at the beginning of June.

Central European styrene market

Styrene imports into Hungary totalled 9,481 tons in the first quarter in 2025 against 20,776 tons in the same period in 2024.  Italy accounted for 8,925 tons of styrene imports into Hungary which was down from 19,526 tons in 2024.  Prices for styrene imports into Hungary amounted to €1307.9 per ton against €1380.1 per ton in 2024.

Styrene imports into Poland totalled 25,261 tons in the period January to March 2025 against 25,805 tons in the same period in 2024.  The largest supplier was Saudi Arabia which shipped 6,413 tons against zero in the first quarter last year.  Belgium reduced shipments to Poland from 5,765 tons in the first quarter last year to 4,806 tons this year.  Average prices for imports into Poland dropped from €1287.2 per ton in the first quarter last year to €1142.7 ton this year.

Styrene imports into the Czech Republic amounted to 7,256 tons in the first three months in 2025, of which the Netherlands supplied 5,007 tons.  Styrene is used by Synthos at Kralupy to produce different grades of synthetic rubber.

Czech polyethylene trade Jan-Mar 2025

For imports of all forms of polyethylene, Czech inward shipments amounted to 77,577 tons in January to March 2025 against 77,020 tons in January to March 2024, with prices rising slightly from €1484.3 per ton to €1500.9 per ton.  Germany was the largest source of polyethylene imports, followed by the Netherlands and Belgium. 

Polyethylene exports from the Czech Republic amounted to 86,219 tons in the first quarter measured against 97,044 tons in January to March 2024.  Average prices increased from €1293.4 per ton to €1405.2 per ton in this year.

HDPE export shipments from Litvinov comprised 71,059 tons in the first quarter against 81,701 tons in the same period last year.  Germany was the largest destination for Czech HDPE supplied from Litvinov.  Other important markets for Czech polyethylene exports include Poland, Italy and Belgium. 

Polish polyethylene trade Jan-Mar 2025

Despite the fall in polyethylene production at Plock in the first quarter this year the market balance increased from 314,800 tons in January to March 2024 to 331,700 tons.  Export volumes were similar in Q1 2025 and Q1 2024, whilst imports increased by around 23,000 tons.   The outlook for polyethylene consumption has shown some tentative signs of improvement at the start of 2025, although factors such as the war in Ukraine and US tariffs make it very difficult to make short term forecasts plausible.

Polish imports of polyethylene totalled 357,381 tons in January to March 2025 against 334,407 tons in the same period in 2024, with average prices falling from €1305.2 per ton to €1254.7 per ton.  In addition to the European suppliers to Poland, Saudi Arabia and the US provided 37,830 tons and 42,000 tons respectively in the first quarter. 

HDPE is the largest category of imported polyethylene into Poland, amounting to 34,792 tons in January versus 36,224 tons in January 2024.  Germany is the largest supplier of HDPE to the Polish market.  

LLDPE imports rose from 52,413 tons in January to March last year to 57,023 tons in the corresponding month this year.  Most of the LLDPE imports were sourced mostly from West Europe, including France, the Netherlands and Germany.  LDPE imports increased to 97,261 tons versus 86,967 tons in January to March last year.  Imports from ethylene alpha olefins increased to 70,667 tons against 76,532 tons.

Polish imports of polyethylene totalled 1.377 million tons in 2024 against 1.250 million tons in 2023, with average prices falling from €1363.1 per ton to €1193.9 per ton.  HDPE is the largest category of imported polyethylene into Poland, amounting to 439,844 tons in January to December 2024 versus 423,415 tons in 2023.

Polish polyethylene exports amounted to 74,591 tons in January to March this year, slightly up from 74,296 tons in January to March last year.  Around 28,000 tons was exported to Germany in the first quarter.  Average prices for polyethylene exports from Poland increased in the first quarter to €1378.0 per ton versus €1113.3 per ton in the same period in 2024.  Exports of HDPE from Poland amounted to 47,138 tons in the first quarter slightly down from 47,620 tons last year whilst LDPE exports rose from 11,179 tons to 15,600 tons.  Exports of ethylene alpha olefins amounted to 3,487 tons.

Hungarian polyethylene trade Jan-Mar 2025

Hungarian polyethylene exports amounted to 80,977 tons in January to March this year against 75,909 tons in 2024, whilst average prices dropped from €1222.4 per ton to €1217.9 per ton.  Revenues for polyethylene exports in January to March rose from €92.793 million in 2024 to €98.624 million in 2025. 

In terms of category HDPE exports increased from 52,213 tons in January to March 2024 to 58,749 tons in the first quarter this year whilst LDPE exports dropped from 16,453 tons to 10,357 tons.   

Hungary remains a net exporter of LDPE and HDPE, whilst continues to be a net importer of LLDPE and ethylene copolymers.  In the first quarter this year HDPE consumption increased to 33,990 tons against 20,454 tons in the same period in 2024. 

HDPE production in Hungary increased in the first three months to 76,000 tons versus 52,000 tons in the same period in 2024, whilst LDPE for the whole MOL Group increased from 17,000 tons to 52,000 tons.

Imports of all grades of polyethylene into Hungary amounted to 43,303 tons in January to March this year against 49,833 tons in 2024.  Hungarian import prices for polyethylene decreased slightly from €1577.2 per ton to €1575.6 in 2025.  The largest category of polyethylene imports comprised HDPE, which dropped from 20,667 tons to 16,739 tons.   

The modernisation and expansion of polypropylene production in Slovnaft confirm the set path of MOL Group, which wants to gradually reduce the production of fossil fuels in favour of increasing the production of basic plastics.  Slovnaft's PP3 polypropylene production unit is currently operating in trial operation, when the technology is being fine-tuned, and performance and quality tests are being carried out. The company expects a permit for permanent operation from the authorities by the end of this year.

Rompetrol[i] Rafinare-LDPE restart

Rompetrol Rafinare is set to restart its LDPE unit at the Petromidia refinery, following the completion of final technological tests. The unit had been shut down at the end of 2023 due to unfavourable market conditions and has undergone extensive maintenance.  The company, which is owned by the Kazakh group KazMunayGaz, has invested around $1.5 million in the reintegration of the LDPE installation.  KazMunayGaz is striving to protect its polymer business in Kazakhstan.

/With a production capacity of 75,000 tpa, the LDPE unit will start producing products such as heat-shrinkable film, agricultural film, thick bags, and thin film for packaging, supporting various industries in Romania.  

Rompetrol Rafinare aims to increase polymer production to over 145,000 tons in 2025.  The LDPE unit, originally commissioned in 1988, had been shut down intermittently, including a period from 1996 until its complete closure in 2005.  After significant investments and modernization, it was restarted in 2006, operating exclusively with imported ethylene. The unit remained in operation until November 2023, when it was temporarily shut down due to market volatility. 

Polish PP Trade Jan-2025

Polypropylene consumption in Poland amounted to 272,400 tons in the first quarter against 237,700 tons in the same quarter last year.  Polish polypropylene imports, including homo grade and copolymers, amounted to 237,563 tons in the first quarter against 234,348 tons last year, with prices rising from €1332.1 per ton to €1428.5 per ton. 

Homo grade polypropylene imports rose from 149,320 tons in January to March last year to 150,448 tons, whilst copolymer imports rose from 79,601 tons to 80,986 tons.  Total import costs of propylene polymers were slightly higher, amounting to €341.478 million against €330.903 million in 2024.  In terms of pricing, imports into Poland usually face a higher premium than exports primarily due to the volumes of propylene copolymers than enter the country. 

Exports of homo polymer grade polypropylene increased from Poland to 21,428 tons in January to March against 15,366 tons last year.   Homo polymer grades comprised the main category of Polish polypropylene exports, where Germany was the largest destination. 

Exports of all grades of polypropylene amounted to 86,225 tons in January to March 2025 against 79,347 tons in January to March last year.  Partly due to the influence of the Police plant, export shipments of propylene polymers from Poland rose to 381,647 tons in 2024 against 213,135 tons in January to December 2023. 

Grupa Azoty Polyolefins-capacity goals 2025

Grupa Azoty and Orlen plan to complete negotiations regarding the business relationship for Polimery Police by 23 June this year.  Orlen has been conducting a due diligence of Grupa Azoty Polyolefins since last year to examine how it might become involved in terms of either equity or joint cooperation.  Grupa Azoty and Orlen has already entered into a working capital financing agreement for up to $28 million to finance the acquisition of propane by Grupa Azoty Polyolefins. The agreement specifies the terms and conditions of this financing and the terms of repayment. Propane is used in Polimery Police for the production of propylene. 

As from 31 July 2024, Grupa Azoty Polyolefins will take over full decision-making power from the contractor Hyundai, where the plant is still operating as part of temporary offtake.  However, the company is still struggling with a large number of defects resulting from errors during the investment process. 

The assumption is that in 2025 the use of the polypropylene production unit at Polimery Police will be similar to that in 2024 at around 50%.  Polimery Police produced 211,000 tons of polypropylene in 2024 and may produce slightly more this year.  The company sells most of its polypropylene in spot transactions, while the market for this product is based mainly on annual contracts.  For the time being, the plant is not able to ensure stable receipt of certain grades of polypropylene.   

Hungarian polypropylene trade Jan-Mar 2025

Exports of all forms of polypropylene from Hungary amounted to 57,288 tons in January to March 2025 versus 59,117 tons in the same period in 2024, with average prices rising to €1353.9 per ton from €1182.9.  Homo-grade PP provides the main category of Hungarian polypropylene exports, amounting to 29,203 tons in the first quarter versus 31,697 tons in 2024.   The major destinations for Hungarian polypropylene exports included Poland, Italy and Romania.

For imports of all forms of polypropylene, Hungarian inward shipments dropped to 43,931 tons in January to March 2025 from 54,179 tons in 2024, with average prices dropping from €1726.1 per ton to €1529.5 per ton.  Imports of propylene copolymers dropped from 13,854 tons to 10,213 tons whilst homo grade polypropylene imports dropped from 35,146 tons to 30,644 tons.    

Slovnaft has invested €63 million in the expansion and modernization of polypropylene production at the Bratislava refinery.   The comprehensive reconstruction of the existing production unit for the production of PP3 polypropylene increased production capacity, reduced the volume of emissions emitted, improved safety and brought greater attractiveness to customers. The investment should thus confirm the strategy of the parent MOL Group, which talks about reducing the production of fossil fuels and strengthening the production of basic plastics.

Czech polypropylene trade Jan-Mar 2025

Exports of all forms of polypropylene from the Czech Republic amounted to 92,858 tons in the first quarter versus 74,024 tons in January to March 2024, with average prices rising from €1437.0 per ton to €1535.6 per ton.   Homo-grade PP provides the main category of Czech polypropylene exports, amounting to 62,728 tons in January to March versus 60,276 tons in January to March 2024.   

For imports of all forms of polypropylene, Czech inward shipments amounted to 83,928 tons in January to March 2025 from 129,855 tons in January to March 2024, with average prices dropping very slightly from €1538.8 per ton to €1537.3 per ton.  Imports of propylene copolymers dropped from 53,123 tons to 35,635 tons whilst homo grade polypropylene imports dropped from 73,021 tons to 45,780 tons. 

Rompetrol Rafinare-polypropylene production Jan-Mar 2025

Rompetrol Rafinare processed 21,000 tons of propylene into polypropylene in the first quarter this year against 23,000 tons in the same period in 2024.  The polypropylene (PP) plant operates with raw material produced and delivered internally by the Petromidia.  The petrochemical segment is the only producer of polypropylene and polyethylene in Romania.  In 2024, the petrochemical division processed 83,000 tons of propylene, with a total polymer production of around 60,000 tons.  

Czech butadiene rubber trade Jan-Mar 2025

The Czech Republic exported 30,657 tons of butadiene rubber in January to March this year against 28,898 tons in the same period in 2024.  Average prices for butadiene rubber rose from €1561.2 per ton to €1941.8 per ton.  Besides exports the Czech Republic also imported 7.364 tons of butadiene rubber in January to March 2025, sourced largely from Germany and the US.

In overall rubber trade the Czech Republic exported a total of 36,682 tons in the first quarter in 2025 against 34,020 tons in the same period in 2024.  Imports at the same time increased from 36,337 tons to 37,123 tons, which were supplemented by imports of natural rubber where imports increased from 20,480 tons to 21,179 tons.

Hungarian synthetic rubber trade Jan-Mar 2025

Hungarian imports of synthetic rubber amounted to 24,516 tons in January to March 2025 against 27,671 tons in January to March 2024.  Average prices increased from €2405.4 per ton to €2534.5 in 2024.  The largest source of synthetic rubber imports came from Indonesia in the first quarter, amounting to 10,471 tons.  Hungary previously imported a large part of its synthetic rubber from Russia.

Butadiene rubber imports into Hungary increased from 6,889 tons to 8,576 tons, with the largest source coming from Indonesia which supplied 8,354 tons.  SBR imports into Hungary dropped from 13,711 tons to 12,448 tons.  

Synthetic rubber exports from Hungary amounted to 14,982 tons in the first quarter this year of which SBR grades accounted for 14,708 tons.  Prices rose from €2530.2 per ton last year to €2877.9 per ton.  Production of solution polymerization styrene-butadiene rubber takes place in Hungary at Tiszaujvaros with capacity of 60,000 tpa.

Polish synthetic rubber imports Jan-Mar 2025

For all types of synthetic rubber imports into Poland average prices dropped from €2216.9 in January to October 2023 to €1831.1 in the first ten months in 2024.  Hungarian import prices rose from €2267.0 per ton to €2468.8 per ton, which is higher than elsewhere in Central Europe.  This is determined predominantly by the higher value grades imported into Hungary.

Poland imported a total of 52,860 tons of synthetic rubber in January to March 2024 against 86,580 tons in January to March 2024.   By category, butadiene rubber was the largest in the first quarter even if dropping from 24,120 tons last year to 11,921 tons this year.  EPDM was the second largest product, accounting for 9,710 tons against 11,022 tons in the same period last year.   The largest suppliers of all grades of synthetic rubber included China, Germany, Belgium and Saudi Arabia. 

Poland imported a total of 304,512 tons of synthetic rubber in January to December 2024 against 265,947 tons in 2023.  

Polish synthetic rubber exports Jan-Mar 2025

Synthetic rubber exports from Poland amounted to 76,978 tons in January to March this year against 89,226 tons in January to March 2024.   Exports of butadiene rubber from Poland amounted to 11,912 tons against 19,012 tons last year.   The largest category of rubber exports focuses on SBR grades where volumes amounted to 60,026 tons in January to March against 53,421 tons in January to March last year.  Prices of synthetic rubber exports from Poland increased from €1623.9 per ton last year to €1718.2 per ton.  The trend for all forms of trade have been downward since the start of 2023 but have started to show an upward trajectory in 2025.   

Synthetic rubber exports from Poland amounted to a total of 333,584 tons in 2024 against 278,352 tons in 2023.   The increase in exports was facilitated by the increase in production by Synthos at Oswiecim.  Exports of butadiene rubber from Poland amounted to 68,842 tons in January to December versus 45,985 tons in the same period in 2023.   The largest category of rubber exports focuses on SBR grade. 

Although Europe comprises the largest regional destination for Polish synthetic rubber exports, India is the largest single country export destination.  India took 42,052 tons in 2024 against 27,123 tons in 2023 and 39,816 tons in 2022.  Exports to Thailand totalled 15,053 tons in 2024 versus 11,954 tons in the previous year.  Brazil reduced its imports from Poland to 18,210 tons in 2024 from 18,603 tons in 2023 and 34,550 tons in 2022. 

Polish synthetic rubber production and domestic market Jan-Mar 2025

Synthetic rubber production at Oswiecim for Synthos amounted to 25,400 tons in January against 20,300 tons in January 2024.  Synthos has managed to diversify its export markets, which has allowed the company to increase production over 2023.  At the same time the production of synthetic rubber has been affected by demand side factors which saw a reduction of consumption in 2023.  Although synthetic rubber production increased in 2024 the extra output was channelled into export activity rather than domestic consumption.

The automotive sector remains the largest consumer of synthetic rubber in Poland, driving demand for high-performance materials like styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR).  For the first three months this year consumption in the manufacture of tyres and other rubber products in Poland was slightly down in January and February, but then actually increased slightly in March.  The problem facing domestic tyre producers include drops in sea freight costs, and a favourable exchange rate which have a positive impact on imports from Asia. As a result, their market share is expected to grow as in the past two years.  However, it is worth bearing in mind that the tense trade situation between China and the US may be reflected in the European tyre and rubber markets, which is strongly linked to the global supply chain.

Polish aromatic exports Jan-2025

Polish exports of benzene totalled 14,455 tons in January against 11,320 tons in January last year.  Benzene exports from Poland are supplied largely from Petrochemia Blachownia at Kedzierzyn-Kozle.  PTA exports from Poland amounted to 25,566 tons in January, up from 22,430 tons.  PTA is also imported into Poland, amounting to 1,485 tons in January.  

Polish aromatic imports Jan-2025

Average prices for phenol imported into Poland dropped to €1059.2 per ton measured against €1257.7 per ton in January to March 2024.  Phenol imports into Poland amounted to a total of 25,147 tons in January to March 2025 which was up from 24,190 tons in 2024.

Germany was the dominant supplier of phenol to Poland, shipping 21,161 tons in the first quarter against 24,190 tons in the same period in 2024.    Spain and Finland accounted for smaller shipments. 

In other product areas, styrene imports into Poland totalled 25,261 tons in the period January to March 2025 against 25,805 tons in the same period in 2024.  The largest supplier was Saudi Arabia which shipped 6,413 tons against zero in the first quarter last year.  Belgium reduced shipments to Poland from 5,765 tons in the first quarter last year to 4,806 tons this year.  Average prices for imports into Poland dropped from €1287.2 per ton in the first quarter last year to €1142.7 ton this year.

Ethylbenzene imports amounted to 27,492 tons in January to March 2025 against 31,801 tons in January to March 2024.  All the ethylbenzene was shipped from Kralupy to Oswiecim, all within the structures of the Synthos Group. 

Caprolactam imports into Poland amounted to 1,197 tons in January versus 647 tons in the same period in 2024.  Caprolactam production remains idle at Pulawy, operated by Grupa Azoty, although the Tarnow plant produced 8,300 tons in January which was up from 8,000 tons.  The PA6 product chain remains under pressure although logistical constraints caused by attacks in Red Sea resulted in a greater demand for the use of products from Europe.

Polish PTA exports Jan-Mar 2025

Exports of PTA from Poland amounted to 65,901 tons in January to March this year against 83,977 tons in January to March 2024.  Germany took 60,604 tons against 71,792 tons last year, with no other single destination taking more than a few hundred tons.  Prices fell from €795.6 per ton in the first quarter last year to €716.6 per ton.  Orlen’s PTA production increased in 2024 to 581,000 tons against 410,000 tons in 2023.  This allowed total sales to increase from 413,000 tons to 575,000 tons.   From the total sales, exports totalled 381,700 tons in 2024 against 238,800 tons in 2023, reflecting in an increase in revenues from €196.2 million to €286.9 million.   

Czech aromatic trade Jan-Mar 2025

Benzene imports into the Czech Republic dropped in January to March this year to 5,585 tons against 14,320 tons in January to March 2024, whilst toluene imports dropped from 559 tons to 450 tons.  Benzene imports are sourced from Poland, Hungary and Serbia.  Benzene imports into the Czech Republic increased in 2024 to 9,564 tons against ,300 tons in 2024.  Benzene production takes place at Litvinov where Orlen-Unipetrol produces from the distillation column attached to the cracker and Valasske-Mezirici where Deza produces from coal.  Deza's process involves washing coke gas to obtain crude benzol, which contains benzene, and then further refining it through hydrogenation and distillation to produce highly refined benzene.

Imports of bisphenol A into the Czech Republic rose from 8,324 tons in January to March 2024 to 8,891 tons in the first quarter this year.  South Korea accounted for 8,704 tons in January to March 2025, up from 5,184 tons in January to March 2024.  Aniline exports dropped to 13,455 tons in January against 20,466 tons last year.  All of the aniline shipped from the Czech Republic is produced at Ostrava by BorsodChem-MCHZ, and most of the exports are shipped to BorsodChem in Hungary. 

Czech caprolactam exports dropped from 7,703 tons in the first quarter last year to 818 tons this year.  Spolana is currently winding down production of caprolactam at the Neratovice plant.  Spolana belongs to Orlen Unipetrol where it has been decided to close unprofitable units such as caprolactam and PVC. 

Czech epoxy resin exports Jan-Mar 2025

Czech exports of epoxy resins amounted to 13,679 tons in January to March against 13,082 tons in January to March 2024.  Prices rose from €2494.0 per ton to €2610.4 per ton.  Germany remains the largest market for Czech epoxy resins, accounting for 5,288 tons in January to March 2025 which was up from 4,134 tons in January to March 2024.  Czech exports of epoxy resins amounted to 49,063 tons in the twelve months of 2024 against 46,888 tons in 2023. 

Hungarian aromatic trade Jan-Mar 2025

Hungarian benzene exports dropped in the first quarter to 3,762 tons in January to March 2025 against 17,466 tons in the first quarter in 2024.  Benzene production in Hungary takes place at the Danube refinery at Szazhalombatta but exports have dropped due to higher domestic demand. 

As a result, imports of benzene increased in the first quarter increased to 11,094 tons against 8,390 tons in the same period last year.  Poland increased shipments to 5,883 tons against 5,231 tons in 2024.

Toluene imports into Hungary amounted to 15,137 tons in January to March this year for costs of €14.212 million.  This increased from 13,162 tons in the first quarter in 2024 for costs of €13.089 million.  Toluene is used mainly in Hungary by BorsodChem in the production of TDI.  The main source of toluene supply last year was Germany, providing 53% of imports followed by Romania with 21% and Slovakia 13%.  This trend continued in the first quarter this year with Germany supplying 8,279 tons, followed by Romania with 3,771 tons and Slovakia with 1,919 tons. 

Hungarian TDI-MDI exports Jan-Mar 2025

Hungarian TDI exports totalled 72,493 tons in January to March in 2024 against a total of 81,109 tons in the same period this year.  Average prices dropped from €1917.9 per ton in 2024 to €1837.9 per ton.  Multiple factors influenced the decline in prices last year such as polyurethane demand and feedstock costs. 

The geography of export sales has not fundamentally changed in the past few years, apart from the loss of the Russian market.  Hungarian exports of TDI to Russia totalled 9,321 tons in 2021, the full year before the February 2022 invasion, and thus the volumes were relatively modest.  In Central Europe shipments of TDI from Hungary to Poland increased from 8,416 tons in the first quarter in 2024 to 9,607 tons in the same period in 2025 and to Turkey reduced from 16,191 tons to 11,837 tons.  Shipments to Romania fell from 3,622 tons to 2,704 tons.  The major user of TDI in Romania is Chimcomplex.    

Exports of TDI from Hungary to Belgium rose from 8,682 tons in the first quarter last year to 13,329 tons in January to March 2024, whilst volumes to Italy increased from 6,231 tons to 9,545 tons in the same.  

For the MDI sector, exports from Hungary amounted to 64,230 tons in January to March 2025 against 70,095 tons in 2024.  MDI export prices increased from €1833.5 per ton in the first quarter last year to €2052.4 per ton this year.  In terms of geographical breakdown, Poland was the largest destination for Hungarian MDI exports, taking 15,368 tons in the first quarter in 2025 versus 11,751 tons in the same period in 2024.  Exports to Germany exports dropped from 6,144 tons to 4,455 tons, and to Turkey from 12,798 tons to 7,418 tons.  Shipments to Romania declined from 5,203 tons to 4,642 tons.  Increases were noted for Algeria where exports amounted to 5,512 tons in the first quarter in 2025 against 1,487 tons last year and Italy where exports rose from 3,321 tons to 4,965 tons.

Central European isocyanate trade Jan-Mar 2025

TDI prices in Europe were relatively stable last year allowing an improvement of sales over 2023. This is despite the fact that demand for TDI was sluggish from the downstream polyurethane industries.  

TDI imports into Poland amounted to 20,349 tons in January to March against 20,481 tons in January to March 2024.  Prices of TDI imported into Poland dropped from €2058.2 per ton to €1939.4 per ton.  Hungary was the largest supplier in the first quarter, shipping 11,600 tons to Poland followed by 4,785 tons to Germany.  Poland previously produced TDI at Bydgoszcz, but the plant was closed in 2013 after its acquisition by BASF from Ciech.

MDI imports into Poland totalled 41,255 tons in January to March this year against 39,369 tons in January to March 2024.  Average prices rose slightly from €1859.4 per ton to €1868.1 in January to March this year.  Germany increased MDI shipments to Poland to 13,369 tons in the first three months in 2025 against 12,260 tons in January to March 2024, whilst imports from Hungary increased to 12,903 tons against 10,903 tons in 2024.  Other suppliers included the Netherlands, Belgium and South Korea.

MDI imports into the Czech Republic totalled 8,263 tons in January to March 2025 against 9,355 tons in January to March 2024.  Average prices decreased from €2029.4 per ton to €2010.6 per ton.    The leading supplier was Belgium which shipped 2,470 tons against 2,140 tons in January to March 2024.  Imports from Hungary increased from 1,591 tons to 1,946 tons. 

European polyol market challenges

One of the main challenges for European polyether-polyol producers in 2025 is striving to improve the efficiency of production costs.  The geopolitical situation could moreover significantly influence the flow of imports, including propylene, the price of gas and energy. 

Polyether polyol suppliers in Europe were forced to reduce production levels last year due to cost pressures partly from propylene oxide prices.  The overall market is tight due to a fairly long period of weak demand, especially in the automotive and upholstered furniture sectors.  The main application areas have demonstrated a significant reduction in demand for polyether polyols.  The upholstered furniture industry was particularly affected last year, with many furniture manufacturers having to reduce production or even face the risk of bankruptcy due to falling demand.  

Czech polyol imports Jan-Mar 2025

Czech polyol imports amounted to 12,235 tons in the first quarter this year against 12,097 tons in the same period in 2024, with average prices dropping from €2285.8 per ton to €2182.6 per ton.  Polyol prices in Europe continue to suffer from weak demand.  The leading supplier to the Czech Republic Belgium shipping 3,820 tons, followed by 2,151 tons from Germany.

Hungarian polyol imports Jan-Mar 2025

Imports of polyols into Hungary dropped in the first quarter to 9,090 tons against 9,888 tons in the same period in 2024.  Imports from China amounted to 3,677 tons from 2,738 tons in 2024.  Prices for polyol imports amounted to €1707.2, down from €1788.9 ton in the previous year.  MOL’s new plant at Tiszaujvaros, once fully operational, should impact on import volumes in 2025 but it is really not clear when this plant will fully start.  Relatively low domestic consumption means that MOL will have to export around 75% of its polyol production at full capacity. 

Polish polyol trade Jan-Mar 2025

Exports of polyols from Poland in the first quarter amounted to 14,894 tons against 9,516 tons in January to March 2024.  Prices dropped from €2079.8 per ton to €1937.7 per ton.  Destinations for deliveries were focused mostly on Europe, led by Italy taking 2,355 tons. 

Polish polyol imports amounted to 37,452 tons in January to March 2025 against 33,855 tons in January to March 2024.  The Netherlands reduced shipments from 9,217 tons to 7,364 tons, whilst Germany reduced shipments from 8,052 tons against 7,908 tons.  Polyol import prices into Poland dropped from €1865.3 per ton to €1713.2 per ton.  Polish polyol imports amounted to 141,516 tons in 2024 against 145,292 tons in 2023.

Hungarian maleic anhydride exports Jan-Mar 2025

Hungary exported 4,593 tons of maleic anhydride in January to March this year against 6,855 tons in January to March 2024.   Average prices rose from €958.0 per ton to €1137.8 per ton.  Exports of maleic anhydride to Poland from Hungary decreased from 2,895 tons in 2024 to 864 tons in 2025.

Hungarian organic chemical exports Jan-Mar 2025

Exports of organic chemicals from Hungary totalled 150,139 tons in the first quarter in 2025, down from 176,196 tons in the same period in 2024.  The largest commodity in the organic chemical sector is TDI, accounting for 41% of Hungarian organic chemical exports last year by volume and 33% by value.   Overall, the value of organic chemical exports from Hungary amounted to €413.835 million which was down from €416.433 million in January to March 2024.

Imports of organic chemicals into Hungary amounted to 188,460 tons in the period January to March last year against 189,880 tons in 2024, with values rising from €435.900 million to €450.620 million.  The major organic chemical imports include methanol, toluene, aniline and acrylonitrile. 

Hungarian aniline & acrylonitrile imports Jan-Mar 2025

Aniline imports into Hungary dropped from 33,351 tons in January to March 2024 to 16,493 tons in January to March this year.  Inward shipments from BorsodChem-MCHZ in the Czech Republic dropped to 16,289 tons against 30,103 tons in 2024.  Cost prices of aniline imports declined from €1451.2 per ton to €1340.2 per ton.

Acrylonitrile imports into Hungary increased from 1,699 tons in the first quarter to 2024 to 6,143 tons in the same period in 2024.   Imports from the Netherlands increased from 1,543 tons to 4,845 tons.  Average prices for acrylonitrile imports dropped from 1844.6 per ton to €1672.7 last year.

Polish organic chemical trade Jan-Mar 2025

Organic chemical trade in Poland was higher in the first quarter this year in volume for both export and import against January to March 2024, although export values were slightly lower. 

Exports of organic chemicals from Poland increased by volume to 399,600 tons from 380,600 tons, whilst imports increased from 654,600 tons to 747,100 tons.  Export values declined from €307.7 million to €304.0 million, whilst import values rose from €654.6 million to €747.1 million.    

The largest organic chemical import is methanol where the inward flow into Poland totalled 149,980 tons in January to March 2025, which was up from 149,775 tons in the same period last year.  Regarding methanol derivatives Poland imported 9,284 tons of acetic acid in January to March against 8,316 tons in the same period last year.  The US provided 7,045 tons in the first three months this year.

Imports of ethyl acetate into Poland amounted to 3,723 tons in January to March, down from 4,227 tons.  Mexico supplied 1,796 tons of ethyl acetate to Poland in the first three months this year, with other sources coming from Belgium and the Netherlands.  VAM imports into Poland increased in January to 6,526 tons against 5,567 tons in January to March 2024.  Over 3,000 tons of VAM were supplied this year from Saudi Arabia.

Isopropanol imports into Poland totalled 3,144 tons in January to March 2025, against 2,933 tons in the same period in 2024.  Aside Germany, imports come from the Netherlands and South Africa. 

Regarding export activity in organic chemicals, Polish shipments of monochloroacetic acid (MCAA) amounted to 9,443 tons in the first quarter against 7,280 tons in January to March last year.  MCAA production is undertaken by the PCC Group at Brzeg Dolny. 

Other organic chemical exports from Poland include acetone where shipments amounted to 1,084 tons versus 1,362 tons in January 2024.   The main markets for Polish acetone exports included Italy, Germany, Romania and Lithuania.  Propylene exports increased in 2024 due to the start-up of production at the Polimery Plant.

Polish glycol-oxide imports Jan-Mar 2025

Ethylene glycol imports into Poland dropped in January to March to 9,722 tons from 14,720 tons in the same period last year.  Belgium is the main supplier of glycols to the Polish market.  DEG imports increased to 7,665 tons against 7,527 tons.

Ethylene oxide imports into Poland totalled 5,531 tons in January to March 2025 versus 5,468 tons in the same period in 2024.   Germany currently represents the main source of inward shipments.  Ethylene oxide consumption in Poland is expected to increase after the completion of PCC Exol’s second line of the Ethoxylates II plant at Plock.

Czech organic chemical trade Jan-Mar 2025

Czech imports of organic chemicals are led by methanol where volumes amounted to 9.975 tons in January to March 2025 against 18,260 tons in January to March last year.  2-EH imports dropped from 5,612 tons to 5,447 tons, with Poland providing the largest source of supply.   Oxygenated solvent imports include acetone and ethyl acetate, amounting to 1,343 tons and 953 tons respectively in the first quarter. 

Organic chemical imports totalled €355.1 million in value in the first quarter this year against €325.8 million in the same period in 2024, with export volumes dropping to 168,500 tons against 172,400 tons. 

Organic chemical exports from the Czech Republic dropped by value to €315.7 million against €344.5 million in January to March 2024, with volumes dropping from 160,600 tons to 143,100 tons.  One of the main Czech organic exports is DINP where shipments totalled 3,722 tons in the first quarter this year against 10,704 tons in the same period in 2024.  

Czech methanol imports Jan-Mar 2025

Czech imports of methanol amounted to 9,975 tons in the first quarter this year against 18,260 tons in the same period in 2024.  Prices per ton for methanol imports increased from €386.9 per ton to €546.0 per ton.  Poland was the largest supplier in the first quarter, accounting for 4,664 tons against 12,848 tons in the same period in 2024.  Czech imports of methanol amounted to 64,513 tons in the twelve months of 2024 against 76,290 tons in the same period in 2023.  Prices per ton for methanol imports increased from €373.6 per ton to €406.8 per ton. 

Hungarian methanol imports Jan-Mar 2025

Methanol imports into Hungary in January to March increased to 26,744 tons against 23,236 tons in the same period in 2024.  Imports from Germany dropped from 17,658 tons to 14,451 tons, whilst imports from the Netherlands increased from only 86 tons last year to 6,403 tons.  Imports from Slovenia amounted to 4,721 tons in the first quarter this year, against 4,014 tons in 2024.  Average prices of methanol imports into Hungary amounted to €506.0 per ton in 2025 against €436.8 per ton in 2024.

Polish methanol trade Jan-Mar 2025

Polish imports of methanol amounted to 149,980 tons in the first quarter this year against 149,775 tons in January to March 2024.  Average prices amounted to €409.9 per ton against €320.5 per ton last year.  The US was the largest supplier of methanol to Poland in the first quarter, shipping 35,054 tons against zero in the same period last year.  Belgium supplied 20,358 tons against 33,573 tons in January to March 2024, whilst imports from Venezuela dropped from 35,245 tons to 22,824 tons.

Imports from Trinidad totalled 28,458 tons in the first quarter against no activity in the same period in 2024.   Supplies from the US this year has to some extent replaced shipments from Germany and the Netherlands.  Imports from Germany declined from 22,797 tons in the first quarter to 11,939 tons in the same period in 2025.

Exports of methanol from Poland amounted to 44,829 tons in the first quarter declining from 51,847 tons in the same period in 2024.  Volumes have fallen since the peak of Polish methanol trade whereby Polish traders could access Russian methanol for sale in Central and South East Europe. 

The largest destination for Polish exports in January to March this year was Germany which took 25,872 tons against 28,140 tons in January to March 2024.  Ukraine imported 6,235 tons of methanol from Poland in the first quarter against 6,216 tons.  Polish methanol export prices increased from €376.2 per ton to €481.2 per ton.  Exports of methanol from Poland amounted to 201,476 tons in 2024 declining from 264,289 tons in 2023.  Germany took 104,380 tons in 2024 against 79,930 tons in 2023.  Ukraine imported 25,932 tons of methanol from Poland in 2024 against 25,175 tons in 2023.

Grupa Azoty financial targets 2025

Grupa Azoty has set the goal of a positive EBITDA in 2025 after posting an EBITDA loss of zl 330 million in 2024, compared with a loss of zl 1.37 billion in 2023.  In the largest agro segment, the company hopes to introduce additional tariffs on mineral fertilisers imported from Russia and Belarus from July this year, at the level of €40-45 per ton.  Fertiliser imports to Poland increased in 2024 by 25% to 4.4 million tons, including fertilisers from Russia and Belarus increased by 127% to approximately 1.5 million tons.

In the plastics segment, the company sees no recovery in demand for the time being, but there is a reduction in supply which might help sales.  An improvement in the performance of polyamide 6 has been seen in the past year.  The key aspect for Azoty’s plastics segment in 2025 will be the performance of polypropylene sales, and in this context talks with Orlen on Polimery Police will be crucial. 

Grupa Azoty 2024

Grupa Azoty generated consolidated sales revenue of zl 13.043 billion (€3.049 billion) in 2024, with an EBITDA result of minus zl 330 million (€77.135 million) and an EBITDA margin of minus 2.5%. This represented an improvement of over zl 1 billion (€233.7 million) in EBITDA compared to 2023.  In the fourth quarter Grupa Azoty achieved consolidated sales revenue of zl 3,215 million (€751.5 million) and an EBITDA result of minus zl 31 million (€7.2 million).  The EBITDA margin of minus 1.0% was achieved in the fourth quarter which was better than the overall margin in 2024. 

Since the end of March 2024, recovery measures have been undertaken throughout Grupa Azoty’s divisions in order to ensure financial stability and improve operational performance.  All main products showed an increase in production in 2024 over 2023, although due to lower prices revenues were lower for each category.   

Some of the measures taken have included cost cutting and strengthening of businesses, including the renegotiation of key contracts with suppliers and business partners and the search for new business opportunities.  In addition, Grupa Azoty has taken greater steps towards developing integration and creating greater uniformity between the companies that make up the group. 

The issue of Polimery Police remains an important aspect. The area of ??regulations and the issue of introducing customs duties on fertilizers from Russia and Belarus are also very important.  Since the end of March 2024, the focus has been primarily on stabilising liquidity and maintaining operations despite nearly zl 10 billion in debt and a record loss in 2023.  High gas prices and market conditions, particularly fertilizer imports from Russia and Belarus, remain our biggest challenges.

Latest News from 2024 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec