Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 19 July.

NEWS
Braskem Idesa ethane supply more stable, PE prices to recover in H2 2025 – exec
Supply of ethane from Pemex to polyethylene (PE) producer Braskem Idesa is now more stable after a renegotiation of the contract – but the global PE market remains in the doldrums, according to an executive at the Mexican firm.

INSIGHT: Colombia’s wide single-use plastics ban kicks off amid industry reluctance
Colombia’s single-use plastic ban, which affects a wide range of products, kicks off amid some industry reluctance after a hurried implementation, and with provisions to revise the legislation after a one year trial period.

Brazil’s chemicals capacity utilization falls to record low in May at 58%
The utilization rate at Brazil’s chemical plants fell to 58% in May, the lowest level since records began in 1990, the country’s chemicals trade group Abiquim said on Wednesday.

Brazil’s floods hit GDP growth in 2024 but strong recovery in 2025 – IMF
The IMF has revised Brazil’s economic outlook for 2024, with GDP growth now forecast at 2.1%, down from an earlier projection of 2.2%, because of the floods in Rio Grande do Sul.

Mota-Engil, PEMEX agree to build new ammonia, urea and AdBlue plant in Mexico
Mota-Engil, through its subsidiary MOTA-ENGIL MEXICO, has signed an agreement with Pemex Transformación Industrial, a subsidiary of state-owned energy major Petróleos Mexicanos (“PEMEX”), to construct a fertilizer plant in Escolin in the state of Vera Cruz.

Harvest Minerals undertakes rare earth elements exploration at Brazil fertilizer project
Fertilizer producer Harvest Minerals announced a two-phase rare earth elements exploration program has commenced at its Arapua project in Brazil.

Stolthaven Terminals chosen as potential operator for Brazil green ammonia export terminal
Logistics firm Stolthaven Terminals announced that in cooperation with Global Energy Storage (GES), it has been selected as the only potential operator to design, build and operate a green ammonia terminal in Brazil to be located within the industrial export zone at Pecem in the state of Ceara.

Silver Valley Metals selling Idaho project to refocus on Mexico lithium and SOP project
Brownfield exploration company Silver Valley Metals announced it has signed an asset purchase agreement for the Ranger-Page project in Idaho which will allow it to refocus efforts at its lithium and potash project in central Mexico.

BHP enters into further agreement with Vale over 2015 Brazil dam failure
BHP announced it has entered into an agreement with Vale regarding group action proceedings in the UK in respect of the Fundao Dam failure in Brazil which occurred in 2015.

PRICING
Lat Am PE international prices stable to up on higher US export offers
International polyethylene (PE) prices were assessed as steady to higher across Latin American countries on the back of higher US export offers.

PP domestic prices fall in Argentina on sluggish demand, ample supply
Domestic polypropylene (PP) prices were assessed lower in Argentina on the back of sluggish demand and ample supply. In other Latin American countries, prices were unchanged.

US Gulf sees PVC price decline, Latin America stays stable
Polyvinyl chloride (PVC) demand in Brazil has shown fluctuations from weak-to-stable this July, accompanied by sufficient supply. Although market prices have stabilized, local prices continue to face pressure following a recent price drop in the US Gulf market.