Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 1 March.

NEWS
Mexico’s manufacturing returns to expansion on higher sales
Mexico’s manufacturing contraction in January was a blip, with output returning to growth in February as sales grew, analysts at S&P Global said on Friday.

Brazil’s manufacturing at 20-month high on strong new orders book
Brazil’s manufacturing PMI index continued expanding in February as firms increased their output to cater for a healthy new orders book, analysts at S&P Global said on Friday.

MOVES: Brazil’s Unipar CFO resigns
Unipar’s CFO Antonio Campos Rabello has handed in his resignation, effective 29 February, the Brazilian chemicals producer said late on Tuesday.

Surging PET imports reflect Mexico’s growing industrial appetite
Mexico has seen a significant rise in PET imports since 2021, indicative of heightened demand for this versatile polymer across diverse sectors within the country’s burgeoning economy.

Persistent weak petchems, longer-than-expected spreads recovery to hit Braskem – S&P
Brazil’s petrochemicals major Braskem’s profitability in 2024 will be hit by a delay in a recovery in spreads due to “persistent” weak markets, according to US credit rating agency S&P Global.

Petrobras and ArcelorMittal mull joint low-carbon projects
Brazilian state-owned energy major Petrobras and steel major ArcelorMittal have signed a memorandum of understanding (MoU) to jointly develop low-carbon projects.

PRICING
LatAm PE domestic prices up in Brazil, Colombia due to producers squeezed margins
Domestic polyethylene (PE) prices were assessed higher in Brazil and Colombia on the back of squeezed margins from local producers. In other Latin American countries prices were steady this week.

LatAm PP prices steady to higher due to increased feedstock costs, narrow margins
Domestic polypropylene (PP) prices were assessed higher in Argentina, Brazil, Chile and Mexico on the back of higher feedstock costs and narrow margins. In Colombia prices were steady.