LONDON (ICIS)–Private sector activity in the eurozone returned to a growth footing for the first time in nearly half a year in January, with an expanding service sector counterbalancing stronger but still contractionary manufacturing. Eurozone composite purchasing managers’ index (PMI) firmed to 50.2 in January compared to 49.6 in December, driven by a reading of […]

SAO PAULO (ICIS)–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. As production costs in Argentina remain higher than in key manufacturing hubs such as […]

HOUSTON (ICIS)–ExxonMobil may build an ethane cracker and polyethylene (PE) plant near Corpus Christi, Texas, the company said in an application for a tax break. If ExxonMobil proceeds with the project, it would be built in Calhoun county, which is north of Corpus Christi, the application said. Construction could start in 2025 and finish at […]

HOUSTON (ICIS)–Rates for shipping containers from east Asia and China to the US plunged this week, as did global average rates amid the typical slowdown around the Lunar New Year (LNY) holiday. Meanwhile, shipowners are out with surcharges on various trade lanes, which could support rates at current levels even with the slowdown in volumes. […]

CHARLOTTE, North Carolina (ICIS)–There is uncertainty about the extent that stated US policy goals on tariffs will be achieved and their impact on the economy this year and beyond. Yet for now, the US economy remains on solid ground. An extension of the 2017 tax cuts would be positive, as would deregulation and higher defense […]

SAO PAULO (ICIS)–EU chemicals trade group welcomed on Friday the “political agreement” between the 27-country bloc and the five-country bloc Mercosur on their free trade deal but, after being 25 years in the making, loose ends for its ratification remain. The agreement, yet to be published in full, must now be ratified by national parliaments […]

PARIS (ICIS)–Global specialty chemicals producer Arkema aims to supercharge growth in key targeted markets by leveraging proprietary chemistries to develop new products with clear sustainability and performance benefits. From France-based Arkema’s spinoff from energy giant Total (now TotalEnergies) in 2006, the company has undergone a major transformation from a diversified chemical company with a mixed […]

HOUSTON (ICIS)–The 15 January deadline for finalizing a new labor agreement between unionized dock workers at US Gulf and East Coast ports and the negotiating entity for the ports is nearing with no clear progress on a key remaining issue – automation. This week, a union vice president criticized semi-automated rail-mounted gantry cranes (RMGs) for […]