Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 1 November.

Brazil’s chemicals trade deficit keeps rising; producers entrust recovery to higher tariffs
Brazilian chemicals producers’ market share continued to be threatened in the January-September period, with the industry’s trade deficit rising to $36.2 billion, up 1% year on year, the country’s chemicals producers trade group Abiquim said this week.

Brazil’s chemicals output up 2% in September, plastics and rubber up 6.5%
Brazil’s chemicals output rose by 2% in September, year on year, although it fell compared with August by 2.7%, the country’s statistics office IBGE said on Friday.

Brazil’s manufacturing keeps momentum in October, export orders robust
Brazil’s petrochemicals-intensive manufacturing sectors continued expanding in October, the tenth consecutive month of growth, analysts at S&P Global said on Friday.

Mexico’s manufacturing recovers slightly in October but poor demand keeps it contraction
Mexico’s petrochemicals-intensive manufacturing sectors continued to contract in October, although it slightly improved its performance month on month, analysts at S&P Global said on Friday.

Colombia’s manufacturing output booms in October, central bank cuts rates to 9.75%
Colombia’s petrochemicals-intensive manufacturing sectors made a decisive return to growth in October on the back of a healthy increase in new business, analysts at S&P Global said on Friday.

Brazil’s chemical producer prices up nearly 11% in September
Brazil’s chemicals producer prices rose in September by nearly 11%, year on year, as the sector recovers, the country’s statistics office IBGE said this week.

Mexico’s GDP recovers strongly in Q3, more rate cuts dependent on US election – analysts
Mexico’s GDP grew by 1% in Q3, quarter on quarter, confirming the economy “pulled out of the slump” of the first half of the year, analysts said on Wednesday.

Brazil’s Braskem Q3 resin sales down 2% due to higher PE and PVC stocks
Resin sales in Braskem’s domestic market dropped by 2% in Q3 year on year, mainly due to the higher levels of polyethylene (PE) and polyvinyl chloride (PVC) stocks in the transformation chain, the Brazilian petrochemicals major said on Wednesday in its quarterly production and sales report.

Brazil Petrobras to continue advancing nitrogen project in Tres Lagoas
Brazil producer Petrobras announced that its board of directors has decided to continue implementing the nitrogen fertilizer unit (UFN-III), located in Tres Lagoas, Mato Grosso do Sul.

PRICING
Domestic, international PE prices steady to lower on falling US export offers
Domestic, international polyethylene (PE) prices were assessed as steady to lower across Latin American countries on the back of competitive offers from the US.

Domestic PP prices fall in Colombia, Mexico on lower feedstocks
Domestic polypropylene (PP) prices fell in Colombia and Mexico tracking lower feedstock costs. US October propylene contracts settled at a decrease on falling spot prices.

Brazil hydrous ethanol sees small rise, anhydrous stays steady
Prices for hydrous ethanol saw a slight increase at the lower end of the range, with demand demonstrating stable sales in Q4.

Chile and Colombia PET CFR prices decline amid Asia price reductions
Chile and Colombia’s CFR prices fell on the lower end of the range reflecting the recent price reduction in Asia.