Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 24 November.

NEWS
INSIGHT: Argentina’s petchems brace for deep downturn as Milei delivers shock therapy
Argentina’s petrochemicals players are bracing for a severe and potentially year-long economic contraction as President Elect Javier Milei implements his shock recipes for the country’s beleaguered economy.

Mexico’s secondary activities output up 4.5% in September
Output in Mexico’s petrochemicals-intensive secondary activities rose by 4.5% in September, year on year, the country’s statistics office Inegi said on Friday.

Brazil’s chemicals Q3 output down 12%, sales fall 8%
Brazil’s chemicals production and sales fell in the third quarter by 12.19% and 8.0%, respectively, year on year, the country’s chemicals trade group said this week.

Brazil’s Braskem powering PVC plant with biomass-fed energy
Braskem has started powering its polyvinyl chloride (PVC) plant in Marechal Deodoro, state of Alagoas, with energy produced with biomass, the Brazilian petrochemicals major said this week.

Argentina jumps into unknown, electing far-right candidate Javier Milei as president
Argentina’s far-right and libertarian candidate Javier Milei achieved a resounding victory in the presidential election on Sunday with more than 56% of the votes.

PRICING
Second increase in domestic Argentina PP prices in November, prices unchanged in other LatAm countries
Domestic polypropylene (PP) prices increased sharply in Argentina this week. This represents November’s second price adjustment in the country.

LatAm PE international prices steady to lower, domestic prices fall in Mexico
International polyethylene (PE) prices were assessed as steady to lower across Latin American countries on the back of lower US export prices. Sellers are attempting to speed up exports so that their cargoes can be shipped before year-end accounting.