
Polyethylene terephthalate (PET)
Staying ahead of the many drivers impacting the PET market
Discover the factors influencing polyethylene terephthalate (PET) markets
Utilised universally for synthetic fibers, films, packaging and bottle production, polyethylene terephthalate (PET) is the most common thermoplastic polymer resin of the polyester family. As it is the world’s recyclable packaging choice for many foods and beverages, it is crucial for market participants to stay in touch with each driver and every movement in the PET marketplace.
With an unpredictable landscape challenging the path to success, the right data, technology, and insights play a critical role in helping you optimise your decision making. To fully understand dynamics impacting the PET market and to transform that understanding into realised opportunities, you need to have trusted data and analytics constantly at your fingertips. At ICIS, this is what we do – we provide the deep, global expertise and information you need to navigate your markets with ease.
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Polyethylene terephthalate (PET) news
PODCAST: Europe PE/PP eyes seeds of Jan rebound, braces for Feb battle
LONDON (ICIS)–What with tough financial results from some producers, the threat of tariffs and upstream price wobbles, 2025 already has a lot to discuss for Europe polyethylene (PE) and polypropylene (PP) senior editors. Vicky Ellis and Ben Lake look back on January trends and what is being tussled over for February in contract talks. They touch on LyondellBasell's Q4 results, Dow CEO Jim Fitterling's downbeat view on demand, early February market trends and ICIS' article about the southeast Asia PE plant shutdowns deemed necessary for rebalancing. Podcast edited by Will Beacham ICIS senior analysts, editors and managers will be at the Hyatt Regency Hotel in Cologne, Germany on the 8-9 April for the 11th ICIS World Polyolefins Conference. You’ll also get to hear from industry leaders like Borealis, LyondellBasell and Covestro, as they share their insights. Discover more: .
10-Feb-2025
Latin America stories: weekly summary
SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 7 February. NEWS US tariffs could jeopardize $800 million of Mexican plastics exportsPotential US tariffs of 25% on all goods coming from Mexico could hit the country’s plastics sector hard, with exports to the US worth $800million, plastics sector trade group Anipac said this week. US suspends tariffs on Mexico for one month as high-level talks on key issues startThe US has agreed to pause for one month its 25% import tariffs on Mexican goods as the two countries agreed setting up working groups on three key issues, the presidents of both countries said on Monday. Brazil's Braskem Q4 resin sales fall 7% quarterly on lower PE, PP demandResin sales in Braskem's domestic market dropped by 7% in Q4 2024 compared with Q3 2024, mainly due to the decreased demand for polyethylene (PE) and polypropylene (PP) explained by the seasonality of the period, the Brazilian petrochemicals major said on Wednesday in its quarterly production and sales report. Brazil’s Unigel appoints Dario Gaeta as CEO after debt restructuring greenlitBrazilian chemicals producer Unigel has concluded its debt restructuring process worth Brazilian reais (R) 5.1 billion ($885 million) after a Sao Paulo business court greenlit the plans drawn up by creditors. Brazil's industry broadly declines in December – trade groupBrazil's industrial activity key metrics slowed down in December, with revenue and production hours both falling 1.3% from November, trade group the National Confederation of Industry (CNI) said on Friday. Brazil chemicals output falls slightly in December; up 3.3% annuallyBrazil’s chemicals output fell by 0.8% in December, month on month, but it rose by 3.3% in 2024, compared with 2023, the country’s statistical agency IBGE said on Wednesday. Brazil’s manufacturing expansion keeps slowing on currency, fiscal woesBrazilian manufacturing continued expanding in January albeit at lower rates than for most of 2024 as currency weakness drove up import costs and dampened demand, though firms remained optimistic enough to hire temporary workers, analysts at S&P Global said on Monday. Mexico’s manufacturing slump deepens as new orders keep fallingMexico's manufacturing sector contracted for a seventh straight month in January as new orders fell at their fastest pace since October, analysts at S&P Global said. Colombia’s manufacturing jumps in January on sharply higher new ordersColombian manufacturing growth accelerated sharply in January as new orders rose at their fastest pace in a year, driving increased hiring and purchasing activity, analysts at S&P Global said on Monday. Brazil chemicals deficit hits $49 billion in 2024 despite higher tariffs by year-endBrazil's chemical industry posted a $48.7 billion trade deficit in 2024 as imports surged to $63.9 billion, driven by “predatory pricing” from US and Asian suppliers, the country’s chemicals trade group Abiquim said. Brazil chemicals producer prices up 12% in 2024Chemical producer prices in Brazil rose 12.2% in 2024 year on year, and above the average for industrial producer prices, the country’s statistical agency IBGE said on Tuesday. PRICINGLatAm PP international prices stable to up on ´higher feedstock costs, squeezed marginsInternational polypropylene (PP) prices were assessed as steady to higher across the region on the back of higher feedstock costs and squeezed margins. LatAm PE domestic, international prices increase on higher US export offersDomestic and international polyethylene (PE) prices increased across the region on the back of higher US export offers.
10-Feb-2025
Asia top stories – weekly summary
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 February 2025. INSIGHT: South Korea broadens aid for struggling petrochemical industry By Nurluqman Suratman 07-Feb-25 11:29 SINGAPORE (ICIS)–South Korea is streamlining regulations to make it easier for regions densely populated by petrochemical companies to qualify as "industrial crisis response areas", a designation that unlocks government support and financial assistance to mitigate impact of market downturns. Asia PE pipe prices get lift from tighter Mideast supply By Izham Ahmad 06-Feb-25 11:01 SINGAPORE (ICIS)–Deals and offers for polyethylene (PE) pipe grade in China and southeast Asia in the week ending 5 February were mostly firmer. China petrochemical futures mixed amid renewed US-China trade war By Jonathan Yee 05-Feb-25 16:05 SINGAPORE (ICIS)–China’s petrochemical futures markets were mixed on Wednesday after the country reopened following its Lunar New Year holiday, amid a trade war renewal with the US on 4 February. Japan's Asahi Kasei 9-month income surges; basic materials swing to profit By Nurluqman Suratman 05-Feb-25 14:20 SINGAPORE (ICIS)–Asahi Kasei's net income surged by 68.1% year on year in the nine months to December 2024, supported by improved petrochemical prices and lower fixed costs, the Japanese chemicals major said on Wednesday. UPDATE: Oil gains, Asia petrochemical shares fall as Trump starts trade war By Nurluqman Suratman 03-Feb-25 14:16 SINGAPORE (ICIS)–Oil prices jumped while shares of petrochemical firms in Asia tumbled on Monday, after US President Donald Trump imposed tariffs on China, Canada and Mexico. Asia rPE, rPP demand from packaging stays subdued in Q1 By Arianne Perez 07-Feb-25 15:40 SINGAPORE (ICIS)–The use of recycled polyethylene (rPE) and recycled polypropylene (rPP) for the packaging of fast-moving consumer goods (FMCGs) has been weak in general for Q1.
10-Feb-2025
SHIPPING: Asia-US container rates tick lower; shippers frontloading cargoes on tariff pause
HOUSTON (ICIS)–Rates for shipping containers from Asia to the US ticked lower this week, although they could see upward pressure from shippers pulling forward volumes ahead of the 30-day tariff freeze, while rates for liquid chemical tankers held steady. Global average rates fell by 3%, according to supply chain advisors Drewry and as shown in the following chart. Global average rates are down by almost 18% from 1 September, and down by almost 45% from the high of the year in mid-July. Rates from Shanghai to both US coasts fell by 1%, as shown in the following chart. Drewry expects spot rates to decrease slightly in the coming week due to the increase in capacity as container ship order books are at record highs. Judah Levine, head of research at online freight shipping marketplace and platform provider Freightos, said his company is already seeing some upward pressure on prices although some could be because of shippers frontloading volumes to beat the 30-day pause before tariffs are enacted. ‘We could expect frontloading ahead of tariffs – which has been a major factor keeping US ocean import volumes and transpacific container rates elevated since November – to intensify until the new tariffs are introduced or called off,” Levine said. Levine said it is hard to determine the impact from volumes being pulled forward since this has likely been happening for several months, and with the market in the lull surrounding the Lunar New Year (LNY) holiday. “But we could expect demand and rates to increase post-LNY,” Levine said. Container ships and costs for shipping containers are relevant to the chemical industry because while most chemicals are liquids and are shipped in tankers, container ships transport polymers, such as polyethylene (PE) and polypropylene (PP), are shipped in pellets. They also transport liquid chemicals in isotanks. LIQUID TANKER RATES STEADY US chemical tanker freight rates as assessed by ICIS were unchanged this week with contract of affreightment (COA) nominations steady for most trade lanes. For the cargoes in the South American trade lane, COAs remain strong leaving very little spot availability. A large parcel of ethanol fixed USG to San Luis, and several others were quoted for second half of February. Similarly, for the USG to ARA trade lane, it was another off week with only a few reported fixtures. However, there were some unusual cargoes fixed for products like caustic soda and ethanol. Some styrene was reported fixed from Lake Charles to ARA. Overall, rates seem to be maintaining current levels particularly for the 3,000- and 5,000-tonne parcels. There was no difference along the USG to Asia routes, as it was another quiet week on this trade lane. Spot rates remain steady as the H1 February space across the regular carriers is sold out. Some of the larger players should have space in the second half of February depending on COA nominations. The chemical COAs have been steady through H1 March, but still in the tentative phase. Several inquiries were seen for methanol, ethanol, vinyl acetate monomer (VAM), styrene and MEG. On the other hand, bunker prices were unchanged this week but overall remain strong. PANAMA CANAL UPDATE Panama’s president said the country will not renew its agreement with China’s Belt and Road Initiative (BRI) after a visit from US Secretary of State Marco Rubio. President Donald Trump surprised some when he said that the US should reclaim the Panama Canal, and a US congressman has since introduced a bill that would authorize the purchase of the vital waterway. The actions taken by Panama’s president, Jose Raul Molino, may slow action by the Trump administration to take back control of the canal. Additional reporting by Kevin Callahan
07-Feb-2025
US tariffs could jeopardize $800 million of Mexican plastics exports
SAO PAULO (ICIS)–Potential US tariffs of 25% on all goods coming from Mexico could hit the country’s plastics sector hard, with exports to the US worth $800million, plastics sector trade group Anipac said this week. Around 75% of Mexican-produced plastics are sold to the US Mexico cabinet, companies hold breath as tariffs threat lingers Some analysts expect GDP to fall by up to 2.5% in 2025 if tariffs remain in place The trade group’s positioning was published after Mexico and the US reached an agreement to put on hold the 25% tariffs for one month. Originally, they were expected to apply from 4 February. Anipac lauded the Mexican government for achieving a partial success but warned that the threat of tariffs remains. According to figures from the trade group, exports to the US represent 75% of all plastics produced in Mexico, but Mexco’s share of overall US plastics imports is only 2%. “The [trade] tension and the result of the imposition of tariffs by our main trading partner will have a direct impact on a decrease in production, loss of formal jobs, and increase in production costs in the vertical integration of manufacturing sectors [in North America],” said Anipac, in a note signed by its president, Marlene Fragoso. “We express our deep concern about President Trump’s strategy of imposing 25% tariffs on all imports of Mexican products as a strategy to put pressure on Mexico to resolve migration and fentanyl trafficking issues, regardless of the agreements under [North America trade deal] USMCA.” Anipac praised the “timely and positive management” of Mexico’s federal government in “this first intervention”, but did not want to claim victory for good as tariffs may be a reality in a few weeks. Moreover, corporate Mexico has been adjusting since November to the idea of a second Trump presidency in which import tariffs – as a strategy to exert pressure or as a reality – are likely to be a key part of the US-Mexico bilateral relationship for much of Trump’s second term in the White House. “We remain in close communication with our peers in the US and attentive to the evolution of this issue,” said Anipac. The trade group had not responded to a request for further comment at the time of writing. One of the polymers which could be greatly affected by a 25% US import tariff would be polyethylene terephthalate (PET), one of the most widely used plastics. The US is a net importer of PET and product coming from Canada and Mexico would be hard to replace. This, in turn, would push prices up, said market sources earlier this week, as any costs related to tariffs would be passed on to customers. IMPORT TARIFFS TO WORSEN SLOWDOWNUS imports tariffs on Mexican goods would deliver a blow to Mexico’s economy. While Mexican plastics producers send around 75% of their output to the US, the overall figure for the manufacturing sectors is 80%. A 25% import tax on four-fifths of all goods made in Mexico sold in the US could send the country’s economy into a long and deep recession, most economists agree. In fact, Mexico’s GDP fell in the fourth quarter of 2024 by 0.6%, compared with the third quarter, while the petrochemicals-intensive manufacturing sectors started 2025 in contraction, the same way they ended 2024. In a note published this week, Spanish bank BBVA, with important operations in Mexico, said the country’s GDP could fall by up to 2.5% in 2025 if tariffs are finally implemented and extend in time. “What economic effects could these tariffs have on the US? The answer depends on various factors, among which the following stand out: the duration of the tariffs, possible tariff retaliations by Mexico and Canada, exchange rate adjustments and the spare capacity in the US to produce the goods that replace imports with the 25% tariff,” said BBVA Research. “What economic consequences the tariffs would have for Mexico? The impact on investment, exports and competitivity could be very adverse. Therefore, there would be a significant downside risk to economic growth in 2025.” MEXICO MANUFACTURING PMI INDEXLast 12 months; reading below 50.0 points shows contraction February 2024 52.3 March 52.2 April 51.0 May 51.2 June 51.1 July 49.6 August 48.5 September 47.3 October 48.4 November 49.9 December 49.8 January 2025 49.1 Source: S&P Additional reporting by Bruno Menini Focus article by Jonathan Lopez Front thumbnail: Trucks at the US-Mexico border (Source: US National Association of Manufacturers (NAM))
07-Feb-2025
VIDEO: Europe R-PET flake, food-grade pellet prices rise in February
LONDON (ICIS)–Senior editor for recycling Matt Tudball discusses the latest developments in the European recycled polyethylene terephthalate (R-PET) market, including: Colourless, mixed coloured, blue flake prices rise Food-grade pellet (FGP) prices increase Question if demand will be sustained Petcore 2025 conference highlights
07-Feb-2025
PODCAST: Look ahead to ICIS PET Value Chain Conference
LONDON (ICIS)–Senior editor, recycling Matt Tudball talks to Helen McGeough, global recycling analytics team lead about some of the key topics that will be discussed at the upcoming ICIS PET Value Chain Conference on 6-7 March in Amsterdam. Topics include: Improving the supply chain for recycled PET Getting access to good-quality feedstocks Deposit return schemes (DRS) growing in Europe Impact of high feedstocks on R-PET prices Spreads between virgin PET and R-PET
05-Feb-2025
PODCAST: Trump 2.0 trade war will destabilise chemical value chains, boost reshoring
BARCELONA (ICIS)–As US president Donald Trump revives his trade war, business leaders may seek certainty by switching to local and regional supply chains. Businesses need stability, certainty to make investment decisions Trade war could drive more national/regional industrial and chemical supply chains But reshoring can be very expensive and time-consuming New technologies such as 3-D printing and AI support local production Export-dependent US chemicals have a lot to lose from a trade war US exported more than 10 million tonnes of polyethylene (PE) to Europe in 2023 In this Think Tank podcast, Will Beacham interviews Nigel Davis from the ICIS market development team and Paul Hodges, chairman of New Normal Consulting. Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS. ICIS is organising regular updates to help the industry understand current market trends. Register here . Read the latest issue of ICIS Chemical Business. Read Paul Hodges and John Richardson's ICIS blogs.
04-Feb-2025
CORRECTED: INSIGHT: US tariffs unleash higher costs to nation's chem industry
Correction: In the ICIS story headlined “INSIGHT: US tariffs unleash higher costs to nation's chem industry” dated 3 February 2025, the wrong volumes were used for the following imports: Canadian ethylene-alpha-olefin copolymers, having a specific gravity of less than 0.94; Canadian polyethylene having a specific gravity of 0.94 or more, in primary forms; Canadian polyethylene having a specific gravity of less than 0.94, in primary forms; Canadian polypropylene, in primary forms; Canadian mixed xylene isomers; Mexican polypropylene, in primary forms; and Mexican cyclohexane. The US did not import cyclohexane from Mexico in 2023. A corrected story follows. HOUSTON (ICIS)–The tariffs that the US will impose on all imports from Canada, Mexico and China will unleash higher costs for the nation's chemical industry, create supply-chain snarls and open it to retaliation. For Canada, the US will impose 10% tariffs on imports of energy and 25% tariffs on all other imports. For Mexico, the US imposed 25% tariffs on all imports but the countries' presidents said on Monday the tariffs are being paused for a month. For China, the US will impose 10% tariffs on all imports. US IMPORTS LARGE AMOUNTS OF PE FROM CANADAUS petrochemical production is concentrated along its Gulf Coast, which is far from many of its manufacturing hubs in the northeastern and midwestern parts of the country. As a result, individual states import large amounts of polyethylene (PE) from Canada – even though the nation as a whole has a large surplus of the material. Even Texas imports large amounts of PE from Canada – despite its abundance of plants that produce the polymer. In addition, polyester plants in North and South Carolina import large amounts of the feedstocks monoethylene glycol (MEG) and purified terephthalic acid (PTA) from Canada. The US as a whole imports significant amounts of polypropylene (PP) and polyvinyl chloride (PVC) from Canada – again, despite its surplus of these plastics. The following table lists some of the main plastics and chemicals that the US imported from Canada in 2023. The products are organized by their harmonized tariff schedule (HTS) code. HTS PRODUCT MEASUREMENT VOLUMES 3901.40.00 Ethylene-alpha-olefin copolymers, having a specific gravity of less than 0.94 kilograms 1,319,817,405 3901.20.50 Polyethylene having a specific gravity of 0.94 or more, in primary forms kilograms 1,088,071,523 3901.10.50 Polyethylene having a specific gravity of less than 0.94, in primary forms kilograms 420,561,390 2917.36.00 Terephthalic acid and its salts kilograms 407,710,439 2905.31.00 Ethylene Glycol kilograms 329,542,378 3902.10.00 Polypropylene, in primary forms kilograms 271,201,880 3904.10.00 Polyvinyl chloride, not mixed with any other substances, in primary forms kilograms 188,800,413 2902.44.00 Mixed xylene isomers liters 746,072 2905.12.00 Propan-1-ol (Propyl alcohol) and Propan-2-ol (isopropyl alcohol) kilograms 87,805,095 3901.30.60 Ethylene-vinyl acetate copolymers kilograms 71,372,396 Source: US International Trade Commission (ITC) IMPORTS FROM MEXICOMexico is not as large of a source of US petrochemical imports as Canada, but shipments from the country are still noteworthy. The following table lists some of the main plastics and chemicals that the US imported from Mexico in 2023. HTS PRODUCT MEASUREMENT VOLUMES 2917.36.00 Terephthalic acid and its salts kilograms 69,230,708 3901.10.50 Polyethylene having a specific gravity of less than 0.94, in primary forms kilograms 34,674,435 2915.24.00 Acetic anhydride kilograms 25,294,318 3904.10.00 Polyvinyl chloride, not mixed with any other substances, in primary forms kilograms 24,005,371 2915.31.00 Ethyl acetate kilograms 18,855,544 3901.20.50 Polyethylene having a specific gravity of 0.94 or more, in primary forms kilograms 14,469,582 3902.10.00 Polypropylene, in primary forms kilograms 8,849,478 Source: US International Trade Commission (ITC) IMPORTS FROM CHINAChina remains a significant source for a couple of noteworthy chemicals despite the effects of the tariffs that US President Donald Trump imposed during his first term in office. The following table shows 2023 US imports from China. HTS PRODUCT MEASUREMENT VOLUMES 29152100 Acetic acid kilograms 21,095,566 39093100 Poly(methylene phenyl isocyanate) (crude MDI, polymeric MDI) kilograms 206,642,886 Source: US International Trade Commission (ITC) China's shipments of plastics goods are more significant. OIL TARIFFS WILL HIT US REFINERSCanada and Mexico are the largest sources of imported crude oil in the US, and the heavier grades from these countries complement the lighter grades that the US produces in abundance. Those imports help fill out refining units that process heavier crude fractions, such as hydrocrackers, cokers, base oil units and fluid catalytic cracking (FCC) units. Refiners cannot swap out heavier Canadian and Mexican grades with lighter US grades. Instead, they will need to pay the tariffs or find another supplier of heavier grades, possibly at a higher cost. The following table shows the largest sources of imported crude in 2023. Figures are listed in thousands of barrels/day. COUNTRY IMPORTS % Canada 3,885 59.9 Mexico 733 11.3 Saudi Arabia 349 5.4 Iraq 213 3.3 Colombia 202 3.1 Total US imports 6,489 Source: Energy Information Administration (EIA) US refiners could take another hit from higher catalyst costs. These are made from rare earth elements, and China remains a key source. TARIFFS TO RAISE COSTS FOR FERTILIZERCanada is the world's largest producer of potash, and it exports massive amounts to the US. It is unclear how the US could find another source. Russia and Belarus are the world's second and third largest potash producers. Together, the three accounted for 65.9% of global potash production in 2023, according to the Canadian government. Canada accounts for significant shares of other US imports of fertilizers. The following table lists some of Canada's fertilizer shipments to the US in 2023 and shows its share of total US imports. Figures are from 2023. HTS PRODUCT MEASUREMENT VOLUME % 31042000 Potassium chloride metric tonne 11850925 88.8 31023000 Ammonium nitrate, whether or not in aqueous solution metric tonne 295438 76.6 31024000 Mixtures of ammonium nitrate with calcium carbonate or other inorganic nonfertilizing substances metric tonne 29203 75.7 31055100 Mineral or chemical fertilizers, containing nitrates and phosphates metric tonne 1580 66.1 31022100 Ammonium sulfate metric tonne 947140 49.6 31052000 Mineral or chemical fertilizers, containing the three fertilizing elements nitrogen, phosphorus and potassium metric tonne 147850 41.4 Source: US ITC SUPPLY CHAIN SNARLSIf US companies choose to avoid the tariffs and seek other suppliers, they could be exposed to delays and supply chain constraints. Other companies outside of the petrochemical, plastic and fertilizer industries will also be seeking new suppliers. The scale of these disruptions could be significant because Canada, Mexico and China are the largest trading partners in the US. The following table lists the top 10 US trading partners in 2023 based on combined imports and exports. Country Total Exports ($) General Imports ($) TOTAL Mexico 322,742,472,406 475,215,965,697 797,958,438,103 Canada 354,355,997,349 418,618,659,183 772,974,656,532 China 147,777,767,493 426,885,009,750 574,662,777,243 Germany 76,697,761,127 159,272,068,221 235,969,829,348 Japan 75,683,130,214 147,238,042,342 222,921,172,556 South Korea 65,056,093,590 116,154,470,335 181,210,563,925 UK 74,315,228,810 64,217,031,774 138,532,260,584 Taiwan 39,956,725,574 87,767,403,487 127,724,129,061 Vietnam 9,842,922,146 114,426,076,081 124,268,998,227 Source: US ITC RETALIATIONUS petrochemical exports would be tempting targets for retaliation because of their magnitude and the global capacity glut. China, in particular, could impose tariffs on US chemical imports and offset the disruptions by increasing rates at under-utilized plants. So far, none announced plans to target chemicals on Sunday. Canada's plans to impose 25% tariffs on $30 billion in US goods does not include oil, refined products, chemicals or plastics. That batch of tariffs will take place on February 4. Canada will impose 25% tariffs on an additional $125 billion worth of US goods following a 21-day comment period, it said. The government did not highlight plastics or chemicals in this second batch of tariffs. Instead, it said the tariffs will cover passenger vehicles and trucks, including electric vehicles, steel and aluminium products, certain fruits and vegetables, aerospace products, beef, pork, dairy, trucks and buses, recreational vehicles and recreational boats. In a statement issued on Sunday, Mexico's president made no mention of retaliatory tariffs. Instead, she said she will provide more details about Mexico's response on Monday. China said it will start legal proceedings through the World Trade Organization (WTO) and take corresponding countermeasures. RATIONALE BEHIND THE TARIFFSThe US imposed the tariffs under the nation's International Emergency Economic Powers Act (IEEPA), which gives the president authority to take actions to address a severe national security threat. In a fact sheet, Trump cited illegal immigration and illicit drugs. Saturday's executive order is the first time that a US president imposed tariffs under IEEPA. Prior IEEPA actions lasted an average of nine years. They can be terminated by a vote in Congress. Insight article by Al Greenwood (Thumbnail shows containers, in which goods are commonly shipped. Image by Shutterstock)
03-Feb-2025
Americas top stories: weekly summary
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 31 January. Colombia accepts US terms for migrants’ deportations, fends off 25% tariff threat Colombia became over the weekend the first Latin American country to get a taste of President Donald Trump’s immigration policy mixed with unconventional diplomacy after the country refused landing to two flights with repatriated Colombian migrants. INSIGHT: US tariffs of 25% on Mexico and Canada would cause massive hit to GDP – ICIS analysis Proposed US tariffs of 25% on all imports from Mexico and Canada would have a massive negative impact to the GDP of the exporting countries and slow US GDP growth as well, according to the ICIS economist. Brazil’s chemicals to slow in 2025 amid currency, fiscal deficit woes – Activas CEO Brazil’s chemicals distribution sector posted healthy activity in 2024 as manufacturing finally gained traction, but conditions are set to worsen in 2025 amid high inflation, high borrowing costs, and a government too prone to spend, according to the CEO at Brazilian chemicals distributor Activas. Dow to face margin pressure in Q1 with no help from macros – execs Dow expects to face sales and margin pressures in Q1 2025 with no improvement in the macro outlook following a difficult Q4, senior executives said. LyondellBasell confident on Q1 PE price gains on cracker downtime, lack of new capacity – execs LyondellBasell expects to see price improvement in North America polyethylene (PE) in Q1 on industry cracker outages and lack of new local capacity starting up, along with higher demand through 2025.
03-Feb-2025
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