Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 13 September.

NEWS
Argentina chemicals, industrial July output falls as industry bears brunt of recession
Argentina’s chemicals and manufacturing outputs fell in July by 5.4% and 2.6% year on year, respectively, as the industrial sectors remain the most affected by consumers’ squeezed budgets.

Argentina’s progress on fiscal consolidation still challenged by inflation – economist
The Argentinian’s government attempt to turn the economy around has had certain successes in the fiscal front, but high inflation is still challenging the outlook as it continues to eat up on gains elsewhere, according to an economist at Buenos Aires-based Fundacion Capital.

Brazil’s Petrobras launches natural gas processing unit in Rio de Janeiro
Petrobras has begun start-up procedures for Brazil’s largest natural gas processing unit (UPGN) in Itaborai, near Rio de Janeiro, the state-owned energy major said on Wednesday.

Brazil’s inflation breaks upward trend in August, but some subsectors keep rising
Brazil’s annual rate of inflation fell to 4.24% in August, down from 4.50% in July, but analysts pointed to how some price rises in certain sectors continue unabated.

Mexico inflation falls below 5% in August, paves way for more interest rate cuts
Mexico’s annual rate of inflation fell quite considerably in August to 4.99%, down from July’s 5.57%, a development which is to reinforce the next cut to interest rates later this month, according to analysts.

Argentina’s August inflation falls below 240% but monthly price increases remain over 4%
Argentina’s annual rate of inflation fell in August to 237%, down from July’s 263%, but monthly price rises stood over the 4% mark, the country’s statistical office Indec said this week.

Dutch Nouryon expands sodium chlorate capacity in Brazil, starts up new site
Nouryon has expanded its sodium chlorate capacity in Brazil by starting up a new manufacturing site in Ribas do Rio Pardo, state of Mato Grosso do Sul, the Dutch chemicals producer said on Tuesday.

Petrobras, Gerdau sign MoU for decarbonization projects
Brazil’s Petrobras and steelmaker Gerdau have signed a non-binding Memorandum of Understanding (MoU) to evaluate commercial opportunities in decarbonization initiatives, the Brazilian energy major said this week.

PRICING
LatAm PP international prices steady to lower on cheaper imports
International polypropylene (PP) prices were assessed as steady to lower across Latin American countries due to competitive offers from abroad and lower US propylene spot prices.

LatAm international PE prices steady to lower on cheaper offers from abroad
International polyethylene (PE) prices were assessed as steady to lower across Latin American countries due to cheaper offers from abroad.

Latin America PVC business monitors potential supply tightening due to maintenance in Q3
Polyvinyl chloride (PVC) prices in Latin America remained steady this week, with the market closely watching US Gulf prices for potential changes in pricing strategies.