Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 3 January.

NEWS
Brazil’s manufacturing loses steam as new orders slow at home and abroad
Growth in Brazil’s petrochemicals-intensive manufacturing sectors slowed down considerably in December on the back of lower new orders and households’ squeezed budgets on rising inflation and high borrowing costs, analysts at S&P Global said on Thursday.

Brazil economists expect weaker real, higher interest rates in 2025
Brazilian economists surveyed by the central bank do not expect the depreciation in the real in past weeks to stay for much of 2025, with interest rates consequently expected at nearly 15%.

Mexico manufacturing sector ends 2024 in contraction on domestic, overseas woes
Mexico’s petrochemicals-intensive manufacturing sector concluded 2024 in contraction on the back of lower new orders and acute woes in the export-intensive automotive sector, analysts at S&P Global said on Thursday.

Colombia manufacturing falls into contraction on China competition, squeezed consumers
Colombia’s petrochemicals-intensive manufacturing sector fell into contraction at the end of 2024 as consumers’ squeezed pockets put a dent in demand and competition from Chinese products increased, analysts at S&P Global said on Thursday.

Chile’s manufacturing up 1.9% in November, industrial output 1.7% higher
Chile’s petrochemicals-intensive manufacturing sectors posted output growth of 1.9% in November, year on year, the country’s statistical office INE said on Tuesday.

Argentina’s YPF high crude production costs offset by stable operations, growing output – Fitch
YPF remains one of the country’s economic hopes for coming years, with output and exports expected to grow, but Argentina’s state-owned energy major’s production costs remain higher than regional peers, US credit rating Fitch said on Friday.

Argentina’s YPF divests lubricants subsidiary in Brazil to Usiquimica
Argentina’s state-owned oil and gas major YPF has signed an agreement to sell its Brazilian lubricants subsidiary to local chemicals producer Usiquimica.

PRICING
LatAm PE prices unchanged on weak market activity
Domestic and international polyethylene (PE) prices were assessed as unchanged across Latin American countries.

LatAm PP prices stable on muted market activity
Domestic and international polypropylene (PP) prices were assessed unchanged across Latin American countries.

Unigel seeks January PS price increase in Brazil
Unigel has announced a 15% price increase, excluding local taxes, on all grades of polystyrene (PS) sold in Brazil, as of 2 January 2025, according to a customer letter.

Innova announces January PS price increase in Brazil
Innova has announced a 15% price increase, excluding local taxes, on all grades of polystyrene (PS) sold in Brazil, effective 1 January 2025, according to a customer letter.