Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 9 February.

Brazil’s chemicals output down 6% in 2023, producer prices fall by 17%
Brazil’s chemicals output fell by 5.9% year on year in 2023, while plastics and rubber production rose by 1.2%, according to the country’s statistical office, IBGE.

INSIGHT: Rough start to 2024 for chemicals, even as economic outlook brightens
The US economy is proving most resilient but it is a different case for chemicals. And while the IMF raised its global GDP growth forecast for 2024 to 3.1% from a prior 2.9%, largely on an improving US outlook, chemical company guidance for Q1 following Q4 earnings calls all points to a rough start for the year.

US natgas prices close below $2, benefiting chem margins
US natural gas prices fell below $2 on Wednesday, which, barring the pandemic, represent the lowest winter-time level since 1997.

INEOS Aromatics closes one of two PX units at Texas City, Texas site
INEOS Aromatics has closed one of its two paraxylene (PX) units at its Texas City, Texas site, according to a company spokesperson.

Brazil to reinstate antidumping duty on US PP
Brazil is to reinstate antidumping duties (ADDs) on US polypropylene (PP), effective immediately after publication in the country’s official gazette.