APLA: Firms Brace for 2009, but Parts of Latin America to Grow

摘要

Latin American chemical makers are bracing for a difficult 2009 as regional GDP growth is expected to be far lower than earlier predictions, according to speakers at the Latin American Petrochemical Association's (APLA: Buenos Aires) annual meeting, held earlier this month in Rio de Janeiro. A surge in global ethylene capacity in 2009 will coincide with a further drop in petrochemical prices, which could drop as much as 44% from peak levels, says Brazilian economist Paulo Rabello de Castro. Global economic turmoil also has not yet reached the bottom and may not get there until mid-2009, de Castro says.