Chemicals
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US tariff exemptions spare some commodity trade
US tariff exemptions spare some commodity trade
Singapore, 3 April (Argus) — US president Donald Trump has exempted many energy and mineral products from his new import tariffs, potentially reducing the immediate impact on commodity trade. But the threat of global economic disruption nevertheless sent commodity futures sharply lower today. The tariffs, announced by Trump on 2 April, include carve-outs for "copper… semiconductors… certain critical minerals, and energy and energy products," the White House said. The full list of exempted products includes many non-ferrous metals, oil products, base oils, coal and some fertilizer and chemical products. The 2 April tariffs will not apply to steel and aluminum, cars, trucks and auto parts, which already are subject to separate tariffs. A 25pc tariff on all imported cars and trucks came into force on 3 April, while a 25pc tax on auto parts will take effect on 3 May. Oil futures fell by over 3pc early in Asian trading hours, despite the exemptions, on concerns about the impact of the new tariffs on the global economy. The June Brent contract on the Ice exchange fell by as much as 3.2pc to a low of $72.52/bl in Asian trading, while May Nymex WTI dropped by 3.4pc to $69.27/bl. Both contracts remained close to their daily lows at 3:15pm Singapore time (07:15 GMT). Exchange-traded metals prices also fell. The declines came despite a drop in the value of the dollar, which would typically support prices of commodities by making them cheaper for buyers using other currencies. By Kevin Foster Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Brazil bets on plastics despite global uncertainties
Brazil bets on plastics despite global uncertainties
Sao Paulo, 28 March (Argus) — Brazil's plastics industry expects investments of R10.5bn/yr ($1.8bn/yr) for the next few years despite potential tariff threats that could upend trading relationships, plastic industry association Abiplast said. Factory expansions, advancements in sustainable packaging, new recycling technologies and enhancements in reverse logistics will fuel the investments, the association said at its Plasticos Brasil industry event. Despite the optimism, Latin American polymers markets are experiencing a period of uncertainty caused by global market disruptions resulting from tariff threats by US president Donald Trump and other factors. The threats of tariffs and retaliations has disturbed traditional plastic resin flows, resulting in lower prices throughout the region, with the effects most evident in the region's largest market, Brazil. A global polymer trader told Argus that polyethylene (PE) prices have reached record lows, with high-density polyethylene (HDPE) blow molding grades dropping close to $900/t during the week, compared with the $1,040–1,080/t range on 27 February. Other PE grades, as well as polypropylene (PP) prices, have followed a similar downward trend. On the other hand, offers of low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) grades are limited, but the scarcity is not pushing these grades upward, according to the source. Instead of taking advantage of discounts, many buyers are postponing purchasing decisions in anticipation of further price drops, leading to fewer deals. Resin produced in the US and the Middle East is also being sold by Chinese traders at prices significantly lower than fresh offers from the original producers. These additional volumes, offered as re-exports, have depressed global prices, particularly in Latin America and especially in Brazil. As a result, some traders continue to lose market share in Brazil, they told Argus. This trend is part of a downturn in the petrochemical industry's cycle, which some traders said will persist for at least a couple more years. Despite these challenges, many market participants were emphatic that they closed many contracts and that they remain optimistic. Regional developments Brazilian chemical giant Braskem told Argus that Mexican joint venture Braskem Idesa's new ethane import terminal is scheduled to start up in May. With the move, the Mexican JV will serve all of its PE plant's feedstock needs with ethane imported from the US. It remains unclear if the Trump administration's threats about imposing fees on Chinese-made vessels when they dock in US ports could impede Braskem's strategy in the region. Braskem's first vessel, the Chinese-built 19,000t Brilliant Future , recently began transporting ethane to Braskem Idesa's complex from the US and a second vessel, with similar specifications and the same route, will be delivered in June. Brazil's Unipar Carbocloro new $35mn plant in Camacari, in northeastern Bahia state, is gradually ramping up its capacity utilization as operations start, with an official opening scheduled for early April. The plant is designed to produce 10,000 t/yr of chlorine, 12,000 t/yr of caustic soda, 25,000 t/yr of hydrochloric acid and 20,000 t/yr of sodium hypochlorite. Unipar also said that the gradual resumption of operations at its Bahia Blanca, Argentina, plant is progressing as planned. The plant went off line on 7 March because of torrential rains. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Irani exits pine chemicals, offers factory
Irani exits pine chemicals, offers factory
London, 26 March (Argus) — Brazilian paper and packaging company Irani is to exit the pine chemicals market, it said today. The Rio Grande do Sul-based company will stop distilling pine oleoresin feedstock at its Balneario Pinhal facility. Pine oleoresin is a raw material for gum rosin and gum turpentine production. Irani will offer the pine chemicals site as partial payment for the acquisition of around 1,856 hectares of land, of which 1,236 hectares are planted with Pinus elliottii in Sao Jose do Norte, from Flopal Florestadora Palmares, Irani said in a document filed with the Brazilian stock exchange. Irani will pay 37mn reals ($6.46mn) for the land. The company will offer its plant, including the site and its assets, for R20mn and pay an additional R17mn in cash when the deal closes. Irani subsidiary Habitasul Florestal will lease other existing forests and the acquired forest area in Rio Grande do Sul to Ambar Florestal for 10 years, the document said. Ambar, owned by Flopal, is a major pine oleoresin supplier in Rio Grande do Sul. Irani expects the acquired area to produce 1,600 t/yr of pine oleoresin in 2025 and 2026, and estimates that combined pine oleoresin output from 2025 to 2038 will reach 29,000t. When leasing pine areas, forest owners in Brazil typically receive a portion of the revenues from oleoresin extraction, which Irani estimated in the agreement at 20-30pc. Rio Grande do Sul is Brazil's second-largest pine oleoresin-producing region after Sao Paulo state. By Leonardo Siqueira Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Singapore opens methanol bunkering licence applications
Singapore opens methanol bunkering licence applications
Singapore, 26 March (Argus) — Singapore's Maritime and Port Authority (MPA) today issued a notice seeking applications for methanol bunkering licences. Successful applicants would be able to supply methanol as a marine fuel in the port of Singapore between 1 January 2026 to 31 December 2030. The agreement includes end-to-end bunkering, which means supplying the fuel, barge operations, storage and safe bunkering onto vessels. Licensees would need to have trained manpower for safe handling of the fuel and have at least one IMO Type II barge. The licensees also need to ensure that the methanol they supply "meet the specified carbon intensity on a well-to-wake basis, demonstrate a transparent and accurate chain of custody methodology to track emissions from source to delivery." This implies the methanol supply needs to have reduced carbon emissions, and be produced via carbon capture (CC) technology or from biomass and renewable sources of energy. Methanol participants do not expect this announcement to significantly impact the current regional methanol market in the short term, as they expect initial volumes to be limited. Some methanol traders had hoped that the government would provide financial incentives for the uptake as a marine fuel. "The industry concern is….no financial support from the Singapore government," said a methanol trader. This announcement comes after MPA announced a new methanol bunkering standard earlier this month. Methanol is one of the early alternative marine fuels, with newbuild order books going past 300 as major container liners and other segments booked dual-fuelled methanol vessels, according to Norwegian classification society DNV's Alternative Fuels Insight . Maersk, among other vessel owners, has been leading the use of methanol as a marine fuel in its fleet. But limited supply of green methanol has slowed the process of its adoption in the past year or so, said market participants. By Mahua Mitra Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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