MH Daily Bulletin: April 26

April 26, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • M. Holland is excited to be the Headline Sponsor for the upcoming Injection Molding & Design Expo in Detroit! This two-day trade show will highlight the latest technologies, materials, equipment and opportunities in injection molding. The event is May 25-26 and admission is free. Click here to learn more.
  • M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. For more information, email our 3D Printing team.
  • Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.

Supply

  • Oil prices fell 4% Monday to their lowest level in two weeks, a reaction to demand slowdowns in COVID-hit China. Prices are down 25% since hitting a 14-year high in early March. 
  • In mid-morning trading today, WTI futures were up 0.5% at $99.07/bbl, Brent was up 0.5% at $102.80/bbl, and U.S. natural gas was up 2.8% at $6.85/bbl. 
  • U.S. oil refiners are expected to post strong first-quarter earnings beginning this week. 
  • U.S. gasoline prices rose for the first time in more than a month yesterday: 
Daily average regular gas and diesel prices in the United States throughout the war in Ukraine (in U.S. dollars)
  • Libyan oilfields may resume full production within days, officials said, after force majeure was declared on over 550,000 bpd last week due to political turmoil. 
  • India’s crude oil import bill doubled last year to $119 billion despite a comparatively small increase in tonnage. 
  • Guyana sold its first 1 million barrels of crude from a new platform to Exxon Mobil for $106/bbl, as the nation ramps up output after becoming an exporter just three years ago. 
  • The state energy firm of Indonesia plans to spend $4 billion to double geothermal capacity by 2028. 
  • More oil news related to the war in Europe:

Supply Chain

Domestic Markets

United States Dallas Fed Manufacturing Index

International Markets

Mexico Economic Activity YoY
  • China’s economy fell sharply into deterioration territory in April, according to a broad set of economic indicators from Bloomberg. 
  • Russia’s president conceded that the nation faces “unprecedented pressure” from Western economic sanctions. 
  • Global venture funding for startups dropped 19% in the first quarter as valuations remained high, signaling further slowdowns in the months ahead. 
  • First-quarter profits at London banking giant HSBC fell 28%, while Switzerland’s UBS saw gains on higher trading activity
  • Spanish producer prices rose 46.6% in March, a record in data going back to 1976, largely due to higher energy costs.  
  • Chinese lending to African governments fell 78% to a 16-year low in 2020, new data shows. 
  • Top polysilicon producers in China reported surging first-quarter profits as demand stays strong for the key solar panel material. 
  • Pony.ai received China’s first license to operate autonomous taxis in Guangzhou province. 

Some sources linked are subscription services.

Stay informed with industry trends and insights.

Subscribe