NEW YORK (ICIS)–Global durable goods demand should finally pick up in H2 2024 on falling interest rates and inflation, ending the longest such downturn in history, said the CEO of LyondellBasell. “We expect moderating interest rates, reduced inflation and infrastructure-related stimulus spending will begin to support a gradual return to healthier demand for durable goods […]

LONDON (ICIS)–Eurozone inflation remained elevated in January though fell slightly from the previous month, according to official data on Thursday. January inflation stood at 2.8%, down from 2.9% in December when the rate rose month on month to curb a downward trend. The main drivers for higher January prices were food, alcohol & tobacco, statistics agency […]

HOUSTON (ICIS)–US oil production will likely exceed the forecast that Enterprise Products made in 2023, and that should lead to more natural gas liquids (NGLs) that petrochemical producers can use as feedstock, the midstream company said on Thursday. The Permian basin will account for the most of that new production forecasted by Enterprise, said Tony Chovanec, […]

NEW YORK (ICIS)–US regulatory policies are proliferating in a power vacuum and holding the chemical industry back, adding roadblocks to the government’s own sustainability agenda, said the CEO of the American Chemistry Council (ACC). The US chemical industry enjoys major structural advantages – a positive tax climate, energy abundance and over $1 trillion in stimulus […]

HOUSTON (ICIS)—The National Corn Growers Association (NCGA) is expressing disappointment over a ruling by the International Trade Commission (ITC) on fertilizer tariffs, which upholds an earlier decision which found material injury to US fertilizer companies. The decision comes after the US Court of International Trade asked the US Department of Commerce (US DOC) and ITC […]

SAO PAULO (ICIS)–The government of the Brazilian state of Ceara and UK-headquartered energy major Bp signed this week a Memorandum of Understanding (MoU) to build a green hydrogen site. The site, to produce also green hydrogen derivatives such as green ammonia, will be built in Ceara’s Pecem Industrial and Port Complex (CIPP). Financial details were […]

MUMBAI (ICIS)–Indian auto major Maruti Suzuki plans to invest Rs382bn ($4.6bn) to expand its production capacity by 1.25m units in the western Gujarat state, Suzuki Motor Corp global CEO Toshihiro Suzuki said at the Vibrant Gujarat Summit. The bulk of the investment or Rs350bn will be for building a plant that will have an annual […]

HOUSTON (ICIS)–The US Gulf Coast chemical industry is bracing for arctic weather forecasted for early next week, but effects on plants and operations are not expected to be catastrophic like winter storm Uri three years ago. The National Weather Service (NWS) is forecasting extremely cold temperatures starting Sunday night, with a chance of rain on holiday Monday […]

HOUSTON (ICIS)–The US Department of Agriculture (USDA) has calculated the final corn numbers at record yield of 177.3 bushels per acre, with total corn production estimated at a new high of 15.3bn bushels according to the January World Agricultural Supply and Demand Estimate (WASDE) report. Not only have corn numbers risen in the latest update […]

CHARLOTTE, North Carolina (ICIS)–Inflation is falling faster than expected across most economies, leading to a turning point in central banks’ two-year battle against surging prices. This turning is now fueling expectations that central banks could pivot to cutting interest rates in 2024. The economies of both China and Europe have lost momentum. Falling oil and […]