Americas top stories: weekly summary
ICIS Editorial
12-Feb-2024
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 9 February.
Brazil’s
chemicals output down 6% in 2023, producer
prices fall by 17%
Brazil’s chemicals output fell by 5.9% year on
year in 2023, while plastics and rubber
production rose by 1.2%, according to the
country’s statistical office, IBGE.
INSIGHT: Rough
start to 2024 for chemicals, even as economic
outlook brightens
The US economy is proving most resilient but it
is a different case for chemicals. And while
the IMF raised its global GDP growth forecast
for 2024 to 3.1% from a prior 2.9%, largely on
an improving US outlook, chemical company
guidance for Q1 following Q4 earnings calls all
points to a rough start for the year.
US natgas prices
close below $2, benefiting chem
margins
US natural gas prices fell below $2 on
Wednesday, which, barring the pandemic,
represent the lowest winter-time level since
1997.
INEOS Aromatics
closes one of two PX units at Texas City, Texas
site
INEOS Aromatics has closed one of its two
paraxylene (PX) units at its Texas City, Texas
site, according to a company spokesperson.
Brazil to
reinstate antidumping duty on US
PP
Brazil is to reinstate antidumping duties
(ADDs) on US polypropylene (PP), effective
immediately after publication in the country’s
official gazette.
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