Brent crude oil rose 5.4% and closed at $64. WTI crude oil rose 5.3% and closed at $60.80. The increases are due to a report on crude oil inventories in the United States, which showed a higher demand from refineries, and to difficulties in navigation in the Suez Canal, a key route for crude oil shipments from Arab oilfields.
Agricultural machinery sales recorded, in 2020, a turnover of 100.8 billion pesos ($1.10 bn), which represents an 80% increase compared to 2019. Argentine firms were benefited by the closure of the import of many implements or by the difficulties global companies encountered to make payments abroad during 2020 due to exchange restrictions.
The Government confirmed that the IMF would grant the country $4.35 billion in Special Drawing Rights. It would alleviate the Government's economic plan and would allow the country to meet its maturities with the organization this year.
The inauguration of the US Secretary of Commerce, Gina Raimondo, came with disturbing news for Argentina: she anticipated global tariffs changes in the short term. Argentina achieved quotas for steel exports of 180,000 tons complied with and that enter without paying tariffs. The same applies to aluminium, which shipped without restrictions. It maintained until now. For Argentina, this means total exports of $700 million. That is what is at stake if this preference is modified.
The industrial group Libson relaunched its household appliances brand Nueva Neba, which includes launching a new line of electric ovens and the execution of an investment plan of 180 million pesos ($1.97 million). The Argentine capital company currently produces close to 90 thousand units per year, including refrigerators and freezers, and will add to its family a new range of electric ovens.