Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 4 April.

NEWS
Mexico’s chemicals breathe sigh of relief on US tariffs; Brazil’s industry urges for dialogue
Mexican chemicals sources were relieved on Thursday to see their country spared from the most punitive US tariff rates, but challenges related to the tariffs on automotive and auto parts remain.

Brazil opens antidumping investigation on PET imports from Malaysia and Vietnam
Brazil’s Department of Trade Defense (DECOM) has launched an investigation into the alleged dumping of polyethylene terephthalate (PET) resin imports from Malaysia and Vietnam, according to the Ministry of Development, Industry, Trade and Services.

INSIGHT: Brazil’s chems producers lobby to expand protectionism as economic issues grow
Brazil’s chemicals producers represented by Abiquim have already started lobbying the cabinet to keep “or even expand” the higher tariffs on chemicals products implemented in October, initially for a 12-month period.

US should focus on era-defining China vs North America dichotomy – Braskem Idesa exec
US import tariffs on Mexico and Canada risk weakening the much-integrated North American trade bloc allowing China to strengthen its formidable rise, according to an executive at Mexico’s polyethylene (PE) producer Braskem Idesa.

Argentina’s economy firmly on the mend but exchange rate concerns cloud outlook – economist
Argentina’s economy has emerged from “intensive care” but remains in hospital as the country turned from the brink of hyperinflation and default in December 2023 to its current state of fragile stability, according to an economist at Buenos Aires-based consultancy Fundacion Capital.

Mexico’s manufacturing slumps on tariffs woes, sentiment plummets amid ‘bleak’ outlook
Mexico’s manufacturing sector deteriorated at its fastest pace since January 2022 as tariff announcements drove sharp declines in sales and production during March, according to S&P Global.

Argentina’s chemicals expectant on US tariff deal, IMF bailout as Milei arrives in Washington
Petrochemicals sources in Argentina were expectant about President Javier Milei’s trip to the US started on Friday and whether he can return home with a deal with Donald Trump’s administration to lower import tariffs on Argentina.

PRICING
LatAm PP domestic prices fall on lower feedstock costs, cheaper imports
Domestic polypropylene (PP) prices fell across Latin American (LatAm) countries on lower feedstock costs and cheaper imports.

LatAm PE international prices steady to lower on cheaper US export offers
International polyethylene (PE) prices were assessed as steady to lower across Latin American (LatAm) countries on the back of cheaper US export offers.