Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 16 September.

US Stepan to acquire surfactants producer PerformanX
Stepan has agreed to acquire the surfactants producer PerformanX Specialty Chemicals, Stepan said on Monday.

TFI ’22: Ammonia market to remain ‘complicated’ through Q4
The global ammonia market looks set to remain “complicated” for the remainder of 2022, following an unprecedented year, sources said on Wednesday.

Eastman slashes Q3 earnings guidance, slammed by demand weakness, energy, FX and logistics – CFO
US-based Eastman Chemical slashed its Q3 earnings guidance and warned that Q4 will likely start from a lower base as demand weakens, elevated natural gas costs bite and the higher US dollar and logistics tangles create headwinds.

LyondellBasell sees weaker demand, lower operating rates
LyondellBasell has seen lower operating rates amid outages and weaker demand, an executive said on Tuesday.

Weakening European consumer demand, lack of China recovery to hit Dow Q3 sales and earnings – CFO
Deteriorating consumer demand in Europe, the lack of any meaningful recovery in China because of continuing COVID lockdowns and rising interest rates and inflation driving down housing activity in the US along with logistics constraints are all conspiring to bring down Dow’s sales and earnings in Q3.

US railroads reach tentative deal to avoid strike
US rail companies, union negotiators and the Department of Labor have reached a tentative labour agreement, avoiding a rail strike, the Department of Labor said in a brief statement on Thursday morning.

US Huntsman slashes Q3 guidance, cites demand weakness, energy prices
Huntsman has cut its Q3 earnings guidance because of high energy costs in Europe, lower than expected demand, and weakness in China’s economy, the US-based chemical company said in an update on Friday.