Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 8 March.

NEWS
Brazil’s chemicals output up nearly 8% in January
Brazil’s chemicals output rose by 7.9% in January from December, despite the 1.6% fall in overall industrial output, according to the country’s statistics office, IBGE.

Brazil’s automotive output up strongly in February as investments soar
Brazil’s petrochemicals-intensive automotive industry’s output rose in February by nearly 25%, month on month, in a sign of a strong recovery in the sector, automotive trade group Anfavea said on Thursday.

Mexico’s inflation falls to 4.4% in February
Mexico’s annual rate of inflation fell in February to 4.40%, down from 4.88% in January, the country’s statistics office, INEGI said on Thursday.

Mexico’s automotive output up nearly 8% in February
Mexico’s automotive sector posted an increase in output of 7.76% in February, year on year, to nearly 320,000 units, slowing down slightly from January, the country’s statistical office Inegi said on Wednesday.

Brazil’s Unigel halts fertilizers production on high natural gas prices
Unigel is to “temporarily stop” nitrogen fertilizers production because of high costs and low prices, effective on Wednesday, the Brazilian chemicals and fertilizers producer said.

Auto major Stellantis to invest €5.6 billion in South America to 2030
Stellantis is to invest €5.6 billion in its South American operations in 2025-2030, with Brazil’s Betim facilities set to greatly expand to produce hybrid vehicles, the global automotive major said on Wednesday.

Petrobras finds no irregularities on Unigel tolling contract after internal investigation
Brazil’s state-owned energy major Petrobras has announced the conclusion of its internal investigation into the tolling contract with Unigel, finding no irregularities, the company said on 4 March.

PRICING
Mexico’s PET prices continue to be threatened by import in 2024
Despite the continuous application of import tariffs on polyethylene terephthalate (PET) from Asia, the influx of imports into Mexico, offering enticing deals, is effectively keeping PET prices away from notable price increases.