Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 27 March.

US March propylene contracts settle down 4 cents/lb

US March propylene contracts settled lower by 4 cents/lb for most of the market amid falling feedstock prices, ample supply and muted demand.

US chem shares, oil fall despite passage of $2tr stimulus bill

Oil prices plummeted and US-listed chemical stocks fell on Friday despite the US Congress passing a $2tr stimulus bill intended to offset some of the economic damage caused by the coronavirus (Covid-19).

US chem shares jump for third day on $2tr stimulus package

US-listed shares of chemical companies rose for the third day in a row on Thursday as the nation continues to make progress towards passing a $2tr stimulus package.The package is meant to offset the economic downturn caused by the coronavirus (Covid-19).

3bn gallons of fuel ethanol idled, some plants switch to industrial production – RFA

The Renewable Fuels Association (RFA) predicts that 3bn gal of ethanol capacity has been idled or will idle in the next several days as the coronavirus (Covid-19) continues to dampen gasoline and fuel ethanol demand.

Mexico’s private industry proposes economic stimulus

As Mexico’s President Andres Manuel Lopez Obrador (AMLO) and his administration has faced criticism for the slow reaction to the coronavirus pandemic, its private sector is calling on federal intervention to counteract the impact on Mexico’s already-fragile economy.

Chems soar, Dow Jones up 11%, as US gets closer to stimulus deal

US-listed shares of chemical companies rose as the Dow Jones Industrial Average increased by more than 11% as lawmakers came closer to passing a stimulus bill.

INSIGHT: Chem M&A, projects may dry up as recession deepens

The combined blows of low oil prices and the coronavirus (Covid-19) pandemic will cause chemical companies to rein in investments, causing declines in mergers and acquisitions (M&A) as well as new projects.

USTMA calls for economic relief for US tyremakers amid coronavirus

A US tyre group is urging lawmakers to enact policies that would provide economic relief to tyre manufacturers and their workers amid production disruptions due to the coronavirus.

US ethanol futures hit another record low

US fuel ethanol futures fell again on Monday to record lows, surpassing the previous records.The US industrial ethanol market continues to tighten amid increased demand for hand sanitizers.

US chem shares fall as Senate debates aid package

Shares of US-listed chemical companies continued to fall on Monday as the nation’s upper legislative chamber continued to negotiate a $2trn aid bill intended to offset the economic disruptions caused by the coronavirus.

Cooper, Michelin suspend some North American tyre production on coronavirus

Cooper Tires and Michelin are the latest tyre makers to suspend North America operations because of impacts from the coronavirus.Cooper said it will temporarily shut down US and Mexico plants, beginning Monday, on a rolling schedule over the coming week and lasting for two-to-three weeks.