Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 25 April.

US chemical stocks may already be signaling recession – analyst
Plunging US chemical stock prices may already be signaling a recession by year-end 2025, one Wall Street analyst said.

Fire, winter freeze push US Ascend into bankruptcy
Ascend Performance Materials was already reeling from overcapacity in China and an industrial recession when its main complex caught on fire and a freeze shut down its operations in Texas – events that contributed to the bankruptcy of the nylon 6,6 producer.

IMF cuts GDP growth forecasts for China to 4.0%; India to 6.2%
The International Monetary Fund (IMF) has cut its growth forecasts for China, India and other developing Asian economies following latest escalation in US-led trade war.

US tariffs enlarge woes in Asia chemical freight market
Vast uncertainty stemming from the US’ tariff moves has squashed hopes of any near-term recovery for Asia chemical tanker market.

Fitch Ratings lowers global auto outlook due to tariffs, forecasts 6.7% fall in US sales
Fitch Ratings lowered its global automotive sector outlook to “deteriorating” from “neutral”, and lowered its US sales forecast by 6.7% to 15.2 million from 16.3 million because of US tariffs on auto imports.

Dow expands Europe asset review, delays Canada cracker project
Dow is to widen its strategic review of European assets and delay work on its planned Canada net-zero cracker project on the heels of a first-quarter net loss.

Chems in longest slump in decades as tariffs stifle demand – Dow CEO
The chemical industry is facing demand-stifling tariffs just as it is in one of its longest downturns in decades, the CEO of US-based Dow said on Thursday.

Mexico’s improved fortunes on US tariffs propping up petchems demand – Entec exec
Mexico’s chemicals fortunes seem to be turning for the better after the country was spared from the most punitive US’ import taxes, according to an executive at chemicals distributor major Ravago’s Mexican subsidiary.

INSIGHT: China mulls tariff exemptions for US ethane, other chemicals
China is considering exempting from tariffs some US goods worth about $46 billion, including chemicals such as ethane, polyethylene (PE) and styrene polymers.

LyondellBasell to mitigate tariff impact with global supply network – CEO
LyondellBasell has optionality to mitigate tariff impacts with its global supply network across the US, Europe, Middle East and China, its CEO said.