Latin America stories: weekly summary
ICIS Editorial
01-Jul-2024
SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 28 June.
NEWS
Brazil Unigel falls short
of tolling deal for ammonia plants –
Petrobras
Petrobras has alleged that Unigel has failed to
meet the terms of their tolling agreement for
the production of ammonia at two idled plants,
the Brazilian state-controlled energy producer
said on Friday.
Brazil’s Cibra
inaugurates new plant in
Matopiba
Cibrafertil Companhia Brasileira de
Fertilizantes (Cibra) has inaugurated a
greenfield plant in Sao Luís, Maranhao, the
Brazilian fertilizer company has announced.
Saudi Arabia,
South America offer promising opportunities for
base oils
Markets such as Saudi Arabia and countries in
South America hold potential for growth in the
years ahead, industry sources said on Friday.
Mexico’s central
bank keeps rates unchanged at 11% as inflation
ticks up
The Banco de Mexico kept on Thursday the main
interest rate benchmark unchanged at 11% after
the annual rate of inflation has increased
since February.
Argentina GDP
down 5.1% in Q1 but sentiment rises again in
May
Argentina’s recession may have bottomed out in
the first quarter, with a GDP fall of 5.1% year
on year, as a leading indicator for economic
activity rose in May for the third month.
Plant status:
Chemours resumes TiO2 production at Mexico
plant
US producer Chemours has resumed operations at
its Altamira, Mexico titanium dioxide (TiO2)
facility after it was forced to reduce them due
to water shortages in the area.
PRICING
LatAm PE domestic
prices lower in Argentina on weak
demand
Domestic polyethylene (PE) prices were assessed
as lower in Argentina while being unchanged in
other Latin American countries.
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