Americas top stories: weekly summary

ICIS Editorial

13-Jan-2025

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 10 January.

Canada’s Trudeau resigns as prime minister
Canada’s Justin Trudeau has resigned as prime minister and Liberal Party leader, with the country now set to head to the polls and return the Conservative party back into office.

Mitsubishi Chem cancels plans for US MMA project
Mitsubishi Chemical Corp (MCC) said on Tuesday it has decided not to proceed with its planned 350,000 tonne/year methyl methacrylate (MMA) project at Geismar, Louisiana.

INSIGHT: Wall Street kicks off new year with 2025 earnings cuts for chemicals
On Wall Street, hope springs eternal at the beginning of a new year, and especially for sectors that have underperformed in the past year. But for chemicals, analysts are kicking off the year with cuts to their 2025 profit forecasts as a recovery in housing, automotive and consumer durables appears to be further off in the horizon.

UPDATE: Strike averted as ILA, ports reach tentative agreement
Union dockworkers and US Gulf and East Coast port operators tentatively agreed to a new six-year contract Wednesday, averting a strike that was about a week away.

INSIGHT: Mitsubishi cancels ethylene-based US MMA project amid global glut
A surge in new methyl methacrylate (MMA) capacity in China will keep utilization rates depressed during the next few years, even with the recent decision by Mitsubishi Chemical to cancel its proposed project in the US.

SHIPPING: Asia-US container rates still rising as tariff threat replaces strike concerns
The tentative agreement between US Gulf and East Coast ports and dockworkers has taken some of the pressure off rates for shipping containers from Asia to the US, but the threat of tariffs proposed by President-elect Donald Trump is likely to support higher prices moving forward.

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