Americas top stories: weekly summary
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 1 December.
US natural R-HDPE
prices return to 2022 premium over
The premium between natural post-consumer recycled high density polyethylene (R-HDPE) resin and its virgin high density polyethylene (HDPE) counterpart has now fallen to levels not seen since this time last year, a trend that may incentivize demand.
Dow makes FID on
Canada net-zero cracker project, construction
to start next year
Dow’s board of directors has made a final investment decision (FID) to proceed with the “Path2Zero” cracker project at the company’s site in Fort Saskatchewan in Canada’s Alberta province, officials said on Tuesday.
volumes to rebound slightly in 2024 with
destocking mostly over – ACC
US chemical volumes are poised to rebound modestly in 2024 as inventories are low and destocking is largely done across most value chains, said the chief economist of the American Chemistry Council (ACC).
market long as crackers return from
The US ethylene market remains long with sufficient supply, weak demand and recent operating rates in the high 70% range. Several crackers have recently restarted which will add length to supply.
players unfazed by import tariff hike,
Brazilian petrochemicals sources have said the slight hike in polymers’ import tariffs will have little overall impact, although it is expected to help shore up margins for domestic producers.
US base oils
demand on track to hit 40-year lows with 19%
decline in 2023 – ICIS
US base oils demand has plunged this year and is set to hit 40-year lows as the market responds to consistently elevated prices amid a relatively weak economy, ICIS experts said.
for ‘very tough’ H1, but healthier growth could
follow – Anastacio CEO
Argentina is to have a “very, very tough” first half of 2024 as President-elect Javier Milei implements a shock therapy for the beleaguered economy, but a healthier country should emerge from the trauma, said the CEO at Brazilian chemicals distributor Quimica Anastacio.
North America ICE
car parc to decline very slowly through 2030 –
The North America car parc – the number of vehicles on the road – for internal combustion engine (ICE) vehicles is expected to peak by 2025 and only decline slowly through 2030, supporting demand for lubricants, said an ICIS economist.
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.
Want to learn about how we can work together to bring you actionable insight and support your business decisions?