Latin America stories: weekly summary

ICIS Editorial

13-Jan-2025

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 10 January.

NEWS
Brazil’s Senator, manufacturers aiming to overturn higher chemicals tariffs, charge against Braskem
Brazilian senator Sergio Moro this week rallied plastic manufacturers against the October increase in import tariffs arguing it primarily benefits petrochemicals major Braskem by protecting its sales in the domestic market.

Argentina’s chemicals output down 2% in November, outpacing manufacturing fall
Argentina’s chemicals output fell by 2.1% in November, year on year, as the sector and peers in manufacturing continue to be one hardest hit by the recession, according to the country’s statistical office Indec.

Brazil’s chemicals producer prices up nearly 12% in November
Brazil’s chemicals producer prices rose by 11.6% in November, year on year, the country’s statistical office IBGE said on Tuesday.

Brazil’s chemicals output falls in November but annual growth at 2.4%
Brazil’s chemicals output fell in November by 2.1%, month on month, according to the country’s statistical office IBGE on Wednesday.

Brazil’s inflation down slightly but central bank to remain firm on hiking interest rates
Brazil’s annual rate of inflation fell slightly in December to 4.83%, compared with November’s 4.87%, according to the country’s statistics office IBGE on Friday.

Mexico’s inflation keeps falling but rate cuts could slow down on global uncertainty
Mexico’s annual rate of inflation fell more than expected to 4.2% in December, down from 4.5% in November, the country’s statistical office Inegi said on Thursday.

Brazil’s November base oils supply exceeds demand
Brazil’s base oils supply rose in November as a rebound in imports more than covered for a drop in domestic output.

PRICING
LatAm PP domestic prices up in Brazil on currency devaluation, higher import tariff
Domestic polypropylene (PP) prices increased in Brazil on the back of currency devaluation and higher import tariff. This is the first price increase since August 2024.

LatAm PE international prices increase on higher US export offers
International polyethylene (PE) prices were assessed higher due to more expensive offers from the US.

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