Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 7 February.

NEWS
US tariffs could jeopardize $800 million of Mexican plastics exports
Potential US tariffs of 25% on all goods coming from Mexico could hit the country’s plastics sector hard, with exports to the US worth $800million, plastics sector trade group Anipac said this week.

US suspends tariffs on Mexico for one month as high-level talks on key issues start
The US has agreed to pause for one month its 25% import tariffs on Mexican goods as the two countries agreed setting up working groups on three key issues, the presidents of both countries said on Monday.

Brazil’s Braskem Q4 resin sales fall 7% quarterly on lower PE, PP demand
Resin sales in Braskem’s domestic market dropped by 7% in Q4 2024 compared with Q3 2024, mainly due to the decreased demand for polyethylene (PE) and polypropylene (PP) explained by the seasonality of the period, the Brazilian petrochemicals major said on Wednesday in its quarterly production and sales report.

Brazil’s Unigel appoints Dario Gaeta as CEO after debt restructuring greenlit
Brazilian chemicals producer Unigel has concluded its debt restructuring process worth Brazilian reais (R) 5.1 billion ($885 million) after a Sao Paulo business court greenlit the plans drawn up by creditors.

Brazil’s industry broadly declines in December – trade group
Brazil’s industrial activity key metrics slowed down in December, with revenue and production hours both falling 1.3% from November, trade group the National Confederation of Industry (CNI) said on Friday.

Brazil chemicals output falls slightly in December; up 3.3% annually
Brazil’s chemicals output fell by 0.8% in December, month on month, but it rose by 3.3% in 2024, compared with 2023, the country’s statistical agency IBGE said on Wednesday.

Brazil’s manufacturing expansion keeps slowing on currency, fiscal woes
Brazilian manufacturing continued expanding in January albeit at lower rates than for most of 2024 as currency weakness drove up import costs and dampened demand, though firms remained optimistic enough to hire temporary workers, analysts at S&P Global said on Monday.

Mexico’s manufacturing slump deepens as new orders keep falling
Mexico’s manufacturing sector contracted for a seventh straight month in January as new orders fell at their fastest pace since October, analysts at S&P Global said.

Colombia’s manufacturing jumps in January on sharply higher new orders
Colombian manufacturing growth accelerated sharply in January as new orders rose at their fastest pace in a year, driving increased hiring and purchasing activity, analysts at S&P Global said on Monday.

Brazil chemicals deficit hits $49 billion in 2024 despite higher tariffs by year-end
Brazil’s chemical industry posted a $48.7 billion trade deficit in 2024 as imports surged to $63.9 billion, driven by “predatory pricing” from US and Asian suppliers, the country’s chemicals trade group Abiquim said.

Brazil chemicals producer prices up 12% in 2024
Chemical producer prices in Brazil rose 12.2% in 2024 year on year, and above the average for industrial producer prices, the country’s statistical agency IBGE said on Tuesday.

PRICING
LatAm PP international prices stable to up on ´higher feedstock costs, squeezed margins
International polypropylene (PP) prices were assessed as steady to higher across the region on the back of higher feedstock costs and squeezed margins.

LatAm PE domestic, international prices increase on higher US export offers
Domestic and international polyethylene (PE) prices increased across the region on the back of higher US export offers.