Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 7 August.

July IPEX rises on US, Europe industry revival but falls 25% year on year
Global petrochemical prices rebounded in July as pandemic-induced lockdowns continued to ease in North America and Europe and industrial activity revived, pushing the monthly IPEX higher.

US manufacturing expands in July – ISM
US manufacturing activity expanded again in July, with the overall economy growing for the third straight month, the Institute of Supply Management (ISM) said on Monday.

Global manufacturing PMIs jump but headwinds hinder full chemicals recovery
Global manufacturing purchasing managers’ indexes (PMIs) are finally in expansion territory, coinciding with volume recovery in some key chemicals markets in early Q3. Yet major headwinds persist and will hamper any full recovery from the coronavirus-induced recession.

US Olin to continue idling capacities, Texas closure on track for end 2020
HOUSTON (ICIS)– Olin will continue idling plants as it adapts to weakness in demand, the CEO of the US-based producer of chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach and hydrochloric acid said in an update on Thursday.

US methanol spot prices push higher as production cuts limit regional supplies
US spot methanol traded higher during the week as a more limited view of production in the region increased buying interest.