Latest market news

Enchentes afetam operações de empresas no Sul do Brasil

  • Market: Agriculture, Metals, Petrochemicals
  • 08/05/24

Diversas empresas brasileiras suspenderam operações no Rio Grande do Sul em razão das chuvas intensas que causaram diversos alagamentos e danos à infraestrutura.

As enchentes ocasionadas pelo recorde de chuvas geraram pelo menos 83 mortes e 111 pessoas desaparecidas, de acordo com o governo estadual. Mais de 23.000 pessoas foram obrigadas a deixarem suas casas em meio a danos generalizados, incluindo pontes e rodovias inundadas em diversas cidades.

A barragem da usina hidrelétrica 14 de Julho, com capacidade de 100MW, no rio das Antas, rompeu na semana passada em meio às fortes chuvas. A Companhia Energética Rio das Antas (Ceran), que opera a usina, implementou um plano de evacuação de emergência em 1 de maio.

  • A produtora de aço Gerdau informou em 6 de maio que suspendeu suas operações em duas unidades no estado até que seja assegurada a "segurança e proteção das pessoas". A empresa não divulgou o volume de produção de aço dessas unidades.
  • A empresa de logística Rumo interrompeu parcialmente suas operações e informou que os "danos aos ativos ainda estão sendo devidamente mensurados".
  • A gigante petroquímica Braskem desligou duas unidades no complexo petroquímico Triunfo, como uma medida de prevenção em decorrência dos "eventos climáticos extremos" no estado, afirmou em 3 de maio. A empresa adicionou que não há expectativa de data para retomar as atividades. A Braskem opera oito unidades industriais no Rio Grande do Sul, que produzem 5 milhões de toneladas (t)/ano de petroquímicos básicos, polietileno e polipropileno, de acordo com seu website.

Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
03/12/24

Treasury eyes 45Z guidance before Biden exit

Treasury eyes 45Z guidance before Biden exit

New York, 3 December (Argus) — The US Department of Treasury said it still plans to issue guidance before president Joe Biden leaves office next year clarifying how refiners can qualify for a new tax credit for clean fuels. The agency "anticipates issuing guidance" around the Inflation Reduction Act's 45Z credit before 20 January to "enable producers to claim the 45Z credit for 2025", disputing a report today that the Biden administration planned on punting implementation to president-elect Donald Trump. The credit, set to kick off regardless on 1 January, will differ from some prior federal incentives by offering greater subsidies to fuels that produce fewer greenhouse gas emissions. Treasury did not commit to any definitive timeline for releasing guidance, and it did not immediately clarify how thorough any eventual rule would be. Companies in the biofuel supply chain say the current lack of clarity from Treasury — particularly on how it will calculate carbon intensities for various fuels and feedstocks — has slowed first quarter dealmaking. Government guidance could make or break the economics of certain plants, particularly for relatively higher-carbon fuels like soy biodiesel or jet fuel derived from corn ethanol. The US Department of Agriculture's timing for releasing a complementary rule to quantify the climate benefits of certain agricultural practices, envisioned as a way to reward refineries sourcing feedstocks from farms taking steps to reduce their emissions, is unclear. The agency said today that a "rulemaking process" in response to its request for information on climate-smart farm practices is "under consideration" but did not elaborate. Agriculture secretary Tom Vilsack had insisted earlier this year that his department would release some package before the end of Biden's term. Some industry groups remain pessimistic that the Biden administration will answer all of the thorny questions still lingering around the 45Z credit, especially given signals earlier this year that other Inflation Reduction Act programs would take priority. The Renewable Fuels Association, which represents ethanol producers, says final regulations around 45Z "seem highly unlikely" before the end of Biden's term but that it hopes Treasury releases at least some "basic information" or safe harbor provisions. Delays getting credit guidance could prod Congress to extend expiring biofuel incentives for another year, including a $1/USG credit for blenders of biomass-based diesel. Some formerly skeptical lobbying groups have recently come on board in support of an extension, fearing that biofuel production could slump next year given the lack of 45Z guidance and uncertainty about how Trump will implement clean energy tax credits. But four lobbyists speaking on background told Argus today that the proposal still faces long odds. Congress has various other priorities for its relatively brief lame duck session, including government funding and disaster aid, that take precedence over biofuels. A staffer with the Democratic-controlled US Senate Finance Committee said last month that Republicans have been reluctant to negotiate tax policy in a divided Congress this year when they are planning a far-reaching tax package under unified Republican control next year. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Find out more
News

Mexico factory contraction eases in November


03/12/24
News
03/12/24

Mexico factory contraction eases in November

Mexico City, 3 December (Argus) — Mexico's manufacturing sector contracted again in November, but at a slower pace than the previous month, according to the Mexican finance executive association's (IMEF) latest purchasing managers index (PMI) surveys. The manufacturing PMI rose to 48.3 from 47.2 in October, inching closer to the 50-point threshold that signals expansion. Still, the index remained in contraction territory for an eighth consecutive month. "There is some stabilization in the loss of economic momentum recorded in previous months," IMEF noted, but the overall trend reflects "stagnation or the absence of solid expansion in both manufacturing and non-manufacturing sectors." Manufacturing accounts for about a fifth of Mexico's economy. Within the manufacturing PMI, the new order index increased by 1.3 points to 47.3 but stayed in contraction. Production fell by 0.5 points to 46.1, with both sub-indicators in contraction for an eighth month. In contrast, non-manufacturing industries—including services and commerce—moved into expansion territory, rising to 50.5 in November from 49.3 in October. New orders in this sector climbed 2.1 points to 51.5, production rose 1.8 points to 50.5 and employment rose by 1.2 points to 49.1, though it remained in contraction for a fifth consecutive month. Inflation concerns raised Looking ahead, IMEF highlighted potential inflationary pressures tied to US President-elect Donald Trump's policies. These include possible supply chain disruptions driven by escalating conflicts with Russia and in the Middle East as Trump shifts toward a more transactional approach with traditional allies. IMEF also warned that Trump may seek to influence the US Federal Reserve to accelerate rate cuts, further fueling inflation. Domestically, deregulation and tighter migration constraints may fail to ease trade bottlenecks. Meanwhile, tax cuts without corresponding spending reductions could add significant upward pressure on prices, IMEF said. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Australia’s BHP and APA partner to cut GHG emissions


03/12/24
News
03/12/24

Australia’s BHP and APA partner to cut GHG emissions

Sydney, 3 December (Argus) — Australian energy firm APA Group has opened a solar farm and battery storage facility at Western Australia's Port Hedland in a move designed to support mineral giant BHP's emissions-reduction goals. APA's plant will power most of BHP's Port Hedland operations from January 2025, under the terms of a power purchase agreement signed between the two firms. Work on the project began last year, supported by a A$1.5mn ($970,000) grant from Western Australia's Clean Energy Future Fund. BHP is planning to reduce its operational greenhouse gas (GHG) emissions by 30pc from 2020 levels within the next six years, without using carbon credit schemes. In the 2023-24 financial year, the company's operational GHG emissions were 32pc lower than 2020 levels at 9.2mn t of CO2 equivalent, despite increasing 2pc on the year. BHP exports Western Australian iron ore through Port Hedland. Shipping data indicates that the company loaded an average of 5.94mn dwt/week of ore over the last three months . Argus ' iron ore fines 65pc Fe cfr Qingdao price was relatively stable over that period, growing from $113/t to $117/t. The Port Hedland opening comes just weeks after Prime Minister Anthony Albanese's government updated Australia's national emissions projection to forecast a 65.7pc baseline drop in electricity emissions, relative to 2020 levels, by the end of the decade. The government was forecasting a more modest 53pc decline in electricity emissions last year. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Brazil's Mato Grosso ups 2024-25 corn outlook


02/12/24
News
02/12/24

Brazil's Mato Grosso ups 2024-25 corn outlook

Sao Paulo, 2 December (Argus) — Brazil's central-western Mato Grosso state increased its outlook for the 2024-25 winter corn crop, based on higher projected acreage. The state now expects to produce 45.8mn metric tonnes (t) of corn this season, up from 45.5mn t in November's outlook, according to Mato Grosso's agricultural economics institute Imea. That is less than the 47.2mn t produced in the 2023-24 crop. The estimate for planted area advanced to 6.83mn hectares (ha) from 6.79mn ha. That is almost 0.6pc above the 2023-24 area. The upwards revision follows recent increase of corn prices in the state, allowing for more farmers to cover production costs. Yields are estimated at 111.7 60kg bags/ha, roughly stable from November and a 3.4pc drop from 115.6 bags/ha in the 2023-24 cycle. That is a preliminary forecast based on the average from the three prior seasons, as sowing is only set to begin in January 2025. A slight change this month follows the area readjustment that alters the average for each region and their share to the state result. Cotton Unfavorable weather conditions that delayed soybean sowing dropped the state's 2024-25 cotton output to 2.7mn t, a 1.8pc drop from November's outlook. The delay in soybean sowing can extend harvest periods and hamper cotton sowing within the ideal window. Still, volumes are up by 2.4pc from the 2023-24 cycle. The year-on-year increase is still driven by cotton's higher profitability than in the previous season, which encourages farmer investments. Total sowed area is expected at 1.5mn ha, a 1.8pc decrease from November's estimate but up by 5pc from the 2023-24 season. Yields remain projected at 284.3 15kg bags/ha, based on a three-year average, since the factors that define crop yields are yet unknown, such as climate conditions and the ideal planting window period. That is 2.6pc below 2023-24 levels. Soybeans Mato Grosso continues set to produce 44mn t of soybeans in the 2024-25 season, unchanged from November's estimate. That is a near 13pc hike from the 39.1mn t in the 2023-24 crop. The 2024-25 yields remain projected at almost 58 60kg bags/ha. But it is still too early in the cycle to make more certain projections, as sowing finished last week. The prior season yielded 52.2 bags/ha. The outlook for planted area is also stable at 12.7mn ha, 1.5pc above the 2023-24 season. By Nathalia Giannetti Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Ukraine agri-exports decline on the month


02/12/24
News
02/12/24

Ukraine agri-exports decline on the month

Kyiv, 2 December (Argus) — Agricultural exports from Ukraine fell in November as an increase in shipments of corn and sunflower oil (SFO) failed to offset lower exports of wheat, barley, soybeans and rapeseed, customs data show. Ukraine exported about 5.48mn t of grains, oilseeds and by-products in November, down from 6.01mn t in October but slightly up from 5.46mn t in November 2023. Exports by all transports fell in November. But in relative terms, shipments from the deep-sea ports of Pivdennyi-Odesa-Chornomorsk (POC) continued to increase, reaching around 82pc of Ukraine's total agricultural exports. This is up from 80pc in October and only 50pc in November 2023. Agricultural exports from Danube river ports fell to 362,740t in November, from 495,225t shipped in October and 1.54mn t in November 2023. The share of products exported from Danube ports has declined to 7pc, down from 8pc in October and 28pc in November 2023. Grains Ukraine shipped 3.86mn t of grains in November, down from 3.92mn t in October, but up from 3.64mn t in November 2023 (see chart). Corn exports continued to rise, to 2.6mn t in the reporting month from 1.93mn t in October and 2.33mn t a year earlier. Turkey remained the largest buyer of Ukrainian corn in November, followed by Spain, Italy and Egypt, according to customs export declarations. In contrast, wheat exports fell to 1.11mn t from 1.65mn t in October and 1.13mn t a year earlier. Spain remained the largest buyer, while Indonesia, Bangladesh, Vietnam and Tunisia made up the top five. Barley exports declined to 157,382t last month, down from 350,055t in October and 181,368t a year earlier. Libya was the main buyer, followed by Cyprus and the United Arab Emirates. Oilseeds Ukraine exported 1.62mn t of oilseeds, vegetable oils and meals in November, down from 2.09mn t in October and 1.82mn t a year earlier. Soybean exports fell sharply to 415,284t, from 715,697t in October and 505,832t in November last year (see chart). Pakistan was the largest buyer of Ukrainian soybeans, followed by Egypt, the Netherlands and Turkey. Ukraine's rapeseed exports fell to 290,583t last month from 475,214t in October and 349,495t a year earlier. This brought Ukraine's total rapeseed exports to about 2.7mn t since the start of the 2024-25 marketing year (July-June). Exports of sunflower seed (SFS) amounted to only 1,242t in November, down sharply from 16,276t in October and 38,584t a year earlier. Exports of sunflower meal (SFM) decreased to 356,553t in the reporting month, down from 383,643t in the previous month, and from 387,397t a year earlier. China was the largest buyer of Ukrainian SFM, followed by France, Poland and Egypt. In contrast, sunflower oil (SFO) exports rose to 508,650t, from 458,260t in October and 506,218t a year earlier. India was the main destination for Ukrainian SFO in October. Spain, Italy, Iraq and Romania made up the top five. By Alexey Yeromin Ukraine grain exports mn t Ukraine oilseed, vegoil and meal exports t Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more