Latin America stories: weekly summary
ICIS Editorial
29-Jan-2024
SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 26 January.
NEWS
Brazil’s new $61bn
industrial policy to prop up beleaguered
chemicals – Abiquim
The Brazilian government’s new 10-year
industrial policy plan will help create the
conditions for the “survival and resumption” of
growth for beleaguered chemicals producers in
the country, according to trade group Abiquim.
General Motors, China’s
BYD to invest over $2.0bn in EVs at Brazilian
facilities
General Motors is to invest Brazilian reais (R)
7.0bn ($1.4bn) in 2024-2028 at its facilities
in the country to implement a “complete
renewal” of its vehicle portfolio focusing on
production of electric vehicles (EVs), the US
automotive major said this week.
Mexico’s secondary
activities output up 3% in November
Output in Mexico’s petrochemicals-intensive
secondary activities rose by 3.0% in November,
year on year, the country’s statistics office
Inegi said this week.
Argentina’s manufacturing
output falls 5% in November
Argentina’s petrochemicals-manufacturing output
fell by 4.8% in November, year on year, the
country’s statistics agency Indec said this
week.
Chile’s manufacturing
producer prices fall in December but wider
economic picture improves
Producer prices in Chile’s
petrochemicals-intensive manufacturing sectors
fell 2.9% in December, year on year, the
country’s statics office INE said on Wednesday.
Acelen Renewables picks
tech for SAF/HVO project in Brazil
Acelen Renewables, a renewable energy company
owned by the UAE’s Mubadala Capital, has chosen
Honeywell’s Ecofining technology for
a 20,000 bbl/day sustainable aviation fuel
(SAF)/hydrotreated vegetable oil (HVO) project
in Bahia, Brazil, officials said on Wednesday.
Brazil’s Petrobras RNEST
refinery expansion to start up in Q1
2025
Petrobras will start up its expansion at the
Abreu e Lima (RNEST) refinery in the first
quarter of 2025, the Brazilian state-owned
energy major said.
Brazil’s chemical imports
relentless growth pushes 2023 deficit to
$47.0bn
Brazilian companies imported in 2023 chemicals
worth $61.2bn, the second-highest figure for
nearly 35 years, pushing the sector’s trade
deficit to $46.6bn, chemicals trade group
Abiquim said on Monday.
PRICING
LatAm
PP prices rise in Chile, Mexico because of
expensive import offers, higher feedstock
costs
Domestic polypropylene (PP) prices rose in
Chile, tracking higher international prices,
while in Mexico prices increased due to higher
feedstock costs. In other Latin American
countries, prices were unchanged.
LatAm
PE domestic prices increase in Chile, Colombia,
Mexico on higher import offers
Domestic polyethylene (PE) prices increased in
Chile, Colombia and Mexico on the back of
higher import offers. In other Latin American
countries, prices were unchanged.
Brazil imports for
caustic soda decrease in 2023
The ICIS Supply and Demand database shows that
Brazil experienced a decline in caustic soda
imports in December compared to the same period
in 2022.
Brazil base oil demand
down in December as output begins to
grow
Brazil’s lube demand fell in December for the
first time in eight months, adding to a
slowdown in consumption throughout the Latin
American market. Slower lube consumption
coincided with the prospect of a recovery in
Brazil’s domestic base oils production early
this year.
Brazil ethanol prices
increasing in January
Prices for hydrous ethanol were assessed higher
this week, and demand is stable with good
supply availability in January.
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