Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 28 June.

NEWS
Brazil Unigel falls short of tolling deal for ammonia plants – Petrobras
Petrobras has alleged that Unigel has failed to meet the terms of their tolling agreement for the production of ammonia at two idled plants, the Brazilian state-controlled energy producer said on Friday.

Brazil’s Cibra inaugurates new plant in Matopiba
Cibrafertil Companhia Brasileira de Fertilizantes (Cibra) has inaugurated a greenfield plant in Sao Luís, Maranhao, the Brazilian fertilizer company has announced.

Saudi Arabia, South America offer promising opportunities for base oils
Markets such as Saudi Arabia and countries in South America hold potential for growth in the years ahead, industry sources said on Friday.

Mexico’s central bank keeps rates unchanged at 11% as inflation ticks up
The Banco de Mexico kept on Thursday the main interest rate benchmark unchanged at 11% after the annual rate of inflation has increased since February.

Argentina GDP down 5.1% in Q1 but sentiment rises again in May
Argentina’s recession may have bottomed out in the first quarter, with a GDP fall of 5.1% year on year, as a leading indicator for economic activity rose in May for the third month.

Plant status: Chemours resumes TiO2 production at Mexico plant
US producer Chemours has resumed operations at its Altamira, Mexico titanium dioxide (TiO2) facility after it was forced to reduce them due to water shortages in the area.

PRICING
LatAm PE domestic prices lower in Argentina on weak demand
Domestic polyethylene (PE) prices were assessed as lower in Argentina while being unchanged in other Latin American countries.