Latin America stories: weekly summary

ICIS Editorial

27-Jan-2025

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 27 January.

NEWS
Colombia accepts US terms for migrants’ deportations, fends off 25% tariff threat
Colombia became over the weekend the first Latin American country to get a taste of President Donald Trump’s immigration policy mixed with unconventional diplomacy after the country refused landing to two flights with repatriated Colombian migrants.

INSIGHT: Trump executive orders to revamp US energy and trade policy
Buckle your seatbelts. US President Trump kicked off Day One with a slew of executive orders that will completely revamp energy and trade policy, with major implications for chemicals and plastics.

INSIGHT: Argentina’s chemicals, manufacturing could be collateral victims of liberalization push
Argentina’s cabinet drive to shift the economy from staunch protectionism into liberal bastion is increasing fears among chemicals and wider manufacturing players that the country’s beleaguered industrial fabric is yet to suffer further losses in output in coming years.

INSIGHT: Brazil’s GDP to be hit by potential US tariffs; COP30 loses significant emitter
Brazil could be hit with US import tariffs of 5% by mid-2025, according to credit rating agency Moody’s, while the Brazilian leading role in climate negotiations in November will be diminished as one of the largest carbon emitters, the US, is absent from the talks.

Argentina’s manufacturing output still falling but ‘expansionary phase’ starting overall
Argentina’s petrochemicals-intensive manufacturing output continued falling in November, down 2.3% year on year, but overall economic output rose while consumer and business confidence is growing.

Brazil’s grain harvest expected at record 322 million tonnes, up 8%
Brazil’s fertilizers-intensive agricultural sector is expected to produce 322.3 million of grains, pulses, and oilseeds in the 2024-2025 harvest, up 8.2% year on year, according to the National Supply Company (Conab).

Mexico’s cabinet wants Pemex to meet 80% of national fertilizers demand
The Mexican government continues putting high hopes on Pemex’s ability to sharply increase its fertilizers output and has suggested the state-owned energy major produce as much as 80% of the country’s demand.

Brazil’s Petrobras to start up ANSA fertilizer plant in H2 2025
Petrobras will start up its ANSA fertilizers plant in Araucaria, state of Parana, in the second half (H2) 2025, according to a spokesperson for the Brazilian state-owned energy major.

German lubes maker Fuchs forms JV with distributor Remsac in Peru
Fuchs Group has established a joint venture in Peru with local distributor Remsac, the German lubricants producer said on Friday.

Austria’s ALPLA to take majority stake in Brazilian recycler Clean Bottle
Austrian packaging firm ALPLA aims to enter Brazil’s recycling market by purchasing a majority stake acquisition in high density polyethylene (HDPE) recycler Clean Bottle, the company said on Wednesday.

Brazil’s December lube demand rises
Brazil’s lube demand rose in December for a ninth month on the back of a jump in consumption of everything from transformer oils to engine oils.

PRICING
Braskem-Idesa announces February price increase in Mexico
Braskem Idesa is seeking a price increase of $110/tonne on high-density polyethylene (HDPE) and low-density polyethylene (LDPE) as of 1 February, according to a customer letter seen by ICIS.

LatAm PP domestic, international prices increase in Mexico on higher spot propylene costs
Domestic and international polypropylene (PP) prices increased in Mexico, tracking higher spot propylene costs. In other Latin American countries, domestic prices were unchanged.

LatAm international LLDPE, HDPE prices steady to higher on back of expensive US export offers
International linear low density polyethylene (LLDPE) and high density polyethylene (HDPE) prices were assessed as steady to higher across Latin American countries. Low density polyethylene (LDPE) prices were assessed unchanged.

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