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.

Stay informed with industry trends and insights.
This field is for validation purposes and should be left unchanged.