Latin America stories: bi-weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the fortnight ended on 16 May.

NEWS
Brazil’s Braskem swings to profit in Q1 but global petchems issues remain
Braskem swung to a net profit in the first quarter, year on year, but sales and earnings fell slightly as the global petrochemicals downturn continues, management at the Brazilian polymers major said on Monday.

Braskem-Idesa launches its ethane import terminal in Mexico
Braskem-Idesa (BI) officially launched the Terminal Quimica Puerto Mexico (TQPM) on Wednesday, according to a notice from the company.

Brazil’s Unipar Q1 metrics show start of recovery, but further protectionism needed – execs
Unipar’s Q1 sales and earnings rose strongly, year on year, despite the prolonged global petrochemicals downturn, weather-related disruptions at its Argentine operations, and lower self-generated energy availability in Brazil due to grid operator restrictions, executives the Brazilian chemicals producer said on Friday.

Brazil’s Unigel small earnings save day in Q1; deal with Petrobras imminent ‘at no cost’
Unigel’s Q1 low earnings at Brazilian reais (R) 23 million ($4.0 million) represented, however, a recovery from negative earnings of R29 million in the same quarter of 2024, the Brazilian styrenics and acrylics producer said on Friday.

Brazil’s Unigel still planning exit from fertilizers but may mull Petrobras plans for northern facilities
Unigel could evaluate plans set out by Petrobras for the fertilizers plants in the northern states of Bahia and Sergipe which were leased to the Brazilian chemicals producer until this month, a spokesperson for Unigel said to ICIS.

INSIGHT: Mexico’s automotive tariffs raise specter of recession, rest of LatAm more resilient
Mexico remains the potential largest victim of the change in US trade policy, but practically no country in the world would be spared from an impact, analysts said this week.

INSIGHT: Brazil’s Lula visit to China bears fruit with multi-billion deals
Brazilian President Luiz Inacio Lula da Silva had already got several investment deals in the bag midway through his five-day state visit to China – among others, Envision Group has committed $1.0 billion in Latin America’s largest economy to produce sugarcane-based sustainable aviation fuel (SAF).

MOVES: Mexico’s trade group ANIQ appoints Jose Carlos Pons as president
Mexico’s chemicals trade group ANIQ has appointed Jose Carlos Pons as president for the 2025-2027 term amid intensifying pressures from trade disputes with the US and broader regional challenges.

Mexico’s chemicals Q1 output down 1.4% amid wider industrial falls
Mexico’s chemicals output fell by 1.4% in the first quarter (Q1), year on year, but production of plastics and rubbers rose healthily, the country’s statistical office Inegi said.

Argentina’s fall in inflation further boosts Milei’s cause, but sustained success harder to come by
Argentina’s annual rate of inflation fell further in April to 47.3%, down from 56% in March, according to the country’s statistical office Indec, in another boost to President Javier Milei drastic economic measures.

IFA ’25: Brazil Potash pushes to ‘lock-in funding this year’
Muriate of potash (MOP) mine developer Brazil Potash continues its pursuit of investors at the International Fertilizer Association (IFA) annual conference in Monte Carlo.

Colombia’s fiscal woes to grow on lower crude prices, hit Petro’s pre-election spending plans
Potentially lower crude oil prices in coming months will dent Colombia’s Treasury ability to collect proceeds from the key income-generator sector, which is dominated by state-owned Ecopetrol. 

PRICING
LatAm PP domestic, international prices unchanged on sufficient supply, stable to soft demand
Domestic and international polypropylene (PP) prices were unchanged this week across Latin American countries.

LatAm PE domestic, international prices steady on stable demand, ample supply
Domestic and international polyethylene (PE) prices were assessed as steady this week across the region.

LatAm PE domestic prices fall on the back of competitive imports from the US
Domestic polyethylene (PE) prices fell across Latin American countries on the back of competitive offers from the US.

LatAm PP domestic prices steady to lower on cheaper imports and feedstocks
Domestic polypropylene (PP) prices were assessed as steady to lower across Latin American countries on the back of lower feedstock costs and competitive offers from abroad.