Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 8 November.

Braskem’s US sales could benefit from higher tariffs on automotive – CFO
Braskem’s operations in the US could benefit if president-elect Donald Trump hikes import tariffs related to the automotive sector, the CFO at the Brazilian polymers major said this week.

Brazil’s Braskem lobbying for ADDs on Chinese PVC to be extended – CFO
Braskem is lobbying the Brazilian government to extend antidumping duties (ADDs) on China-produced polyvinyl chloride (PVC), the CFO at the Brazilian polymers major said on Thursday.

INSIGHT: Braskem’s tariffs-infused optimism risks turning into complacency
Management at Brazil’s polymers major Braskem sounded on Thursday the most optimistic in many quarters after the Brazilian government – which indirectly has a stake on the company – sharply increased import tariffs to protect, in large part, Braskem’s market share.

Mexico’s Braskem Idesa completes 87% of ethane terminal
Construction of Braskem Idesa’s ethane import terminal in Mexico had reached around 87% of physical completion as of September, the Brazilian petrochemicals major said during its Q3 earnings release and conference call on Thursday.

Brazil central bank hikes rates 50 bps to 11.25%, seeks ‘credible’ fiscal policy
Brazil’s central bank monetary policy committee (Copom) voted unanimously late on Wednesday to hike the main interest rate benchmark, the Selic, by 50 basis points to 11.25%, to fend off rising inflation and a depreciating Brazilian real.

Chile’s manufacturing output falls in September, overall activity flat
Chile’s manufacturing output fell in September by 1.1%, month on month, the central bank’s monthly report about economic activity said this week.

Brazilian police indict 20 in Braskem mining disaster case
Brazil’s Federal Police (PF) have closed their probe into Braskem’s rock salt mining operations in Maceió, state of Alagoas, naming 20 individuals as suspects.

MOVES: Braskem appoints Roberto Ramos as CEO
Braskem is to appoint Roberto Ramos CEO, effective 1 December, the Brazilian petrochemicals major said on Monday.

PRICING
LatAm PE international prices stable to soft on competitive US exports
International polyethylene (PE) prices were assessed as stable to soft across Latin American (LatAm) countries on the back of competitive US export offers.

LatAm PP domestic prices fall in Chile, Colombia, Mexico tracking lower feedstock costs, weak demand
Domestic polypropylene (PP) prices fell in Chile, Colombia and Mexico, tracking lower feedstock costs and weak demand. In other Latin American (LatAm) countries, prices were unchanged this week.