The European Union enacted the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) regulation to protect human health and the environment from the effects of chemicals. Click here to learn more about what REACH compliance means for the plastics industry
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 gained less than 1% Tuesday amid competing supply and demand fears.
In mid-morning trading today, WTI futures were up 0.2% at $94.63/bbl, Brent was up 0.1% at $100.70/bbl, and U.S. natural gas was down .5%% at $7.67/MMBtu.
U.S. gasoline prices have fallen for the past 49 days since mid-June highs, with the nation’s average price hitting $4.16 a gallon Wednesday.
The American Petroleum Institute reported a surprise 2.17-million-barrel build in U.S. crude stocks this week. Government data will be released today.
The U.S. continues to export diesel fuel at a record rate of 1.4 million bpd on rising demand from Latin America and Europe.
Occidental Petroleum used ample second-quarter earnings to pay down $4.8 billion in debt and launch a $3 billion share buyback program. The U.S. producer was one of several to report strong quarterly results Tuesday.
Global refining capacity is expected to increase by nearly 3 million bpd by the end of next year with the addition of nine projects in the Middle East and Asia, according to the U.S. government.
More oil news related to the war in Europe:
The EU has successfully reduced its dependence on Russian gas by 50% since late February, according to officials.
The U.S. placed new sanctions on six Chinese and other firms Monday, alleging the companies helped sell tens of millions of dollars’ worth of Iranian oil products to East Asia.
Switzerland unveiled plans to build a $2 billion hydropower plant in the Alps, which could serve as a major source of stability for Europe’s ailing power grid.
India plans to order industries and consumers to use cleaner fuels and aims to establish a carbon market under legislation to bolster its 2070 net-zero push.
Supply Chain
California’s McKinney Fire, the state’s largest blaze of the year, killed two people on Tuesday after spreading to over 56,000 acres with zero containment.
A blast of heat will hit the northeastern U.S. later this week, potentially bringing new temperature records to cities including Boston and New York.
Container rates from Shanghai to Los Angeles dropped 24% in mid-July from a year ago, according to the Drewry World Container Index.
Facing rising congestion at the Port of New York and New Jersey, officials will put a new fee on long-dwelling containers starting in September. Container volumes at the port are 34% higher than pre-pandemic levels.
Maersk upgraded its full-year earnings forecast by 23% to $37 billion, as lingering congestion in container shipping continues to keep freight rates high.
Swiss freight forwarder Kuehne + Nagel’s operating profit more than doubled to nearly $2.3 billion in the first half of the year as revenue increased 45%.
Advanced Micro Devices reported a 70% increase in quarterly sales driven by strength in its data center business.
A Stellantis plant that produces Jeep Compass and Renegade models in southern Italy shut down Tuesday after logistics contractors went on strike.
While other carmakers are curtailing investment in internal combustion engines (ICEs), Stellantis announced it is investing nearly $100 million in three North American plants to build a new ICE for hybrid vehicles.
GM prepaid almost $200 million for a guaranteed six-year supply of lithium from Philadelphia-based Livent Corp, reflecting rising concerns in the auto industry that higher electric vehicle use will tighten markets for key battery metals.
Volkswagen ordered $4 billion worth of the laser technology lidar from Israeli firm Innoviz Technologies, as the automaker prepares to roll out more autonomous vehicles.
Lamborghini and Ferrari reported stellar earnings Tuesday as demand for luxury cars remains high.
GM will use a spate of new measures to curb prices in the used car market, including limits on purchasing and warranty transfers for customers who may be looking to flip its vehicles.
Swedish engineering firm Trelleborg will acquire Minnesota Rubber and Plastics for $1 billion in cash, expanding its polymer and plastics business in North America.
Consumer-goods supplier Helen of Troy is reducing purchase orders as its retail customers report excess inventories.
Airbus delivered 45 jetliners in July, bringing deliveries this year to just over 340, on pace with 2021.
Hospital workers who got a fourth dose of Pfizer’s COVID-19 vaccine were far less likely to be infected than their triple-vaccinated peers, according to a new study.
The Labor Department reported that U.S. job openings fell to a nine-month low of 10.7 million in June, providing the most recent sign of a cooling labor market.
New surveys show about 45% of large U.S. businesses plan to decrease spending on consulting and real estate over the next year, a bid to stay ahead of a potential recession.
U.S. household debt rose by 2% in the latest quarter to $16.2 trillion, with sizable increases noted in mortgages, auto loans and credit-card balances.
Big card issuers including JPMorgan Chase, American Express and Capital One reported near-record levels of credit-card spending in the second quarter while delinquency rates remained low.
U.S. companies are reporting mostly upbeat news this earnings season, surprising investors who were bracing for a gloomier outlook on businesses and the economy. More than halfway into the reporting period, earnings are up 8.1% from a year ago.
In the latest news from second-quarter earnings season:
Airbnb swung to a second-quarter profit on a 58% gain in revenue from last year.
Caterpillar’s 20% rise in North American equipment sales helped to counter lower sales in Europe and falling demand for construction machinery in Asia.
Starbucks’ U.S. sales rose a healthy 9% as sales in China plunged 44% due to lockdowns. The firm warned that labor costs weighed on income, but reassured investors that U.S. customer demand is strong.
Marriott International saw revenue jump 70% to $5.34 billion, as occupancy edged closer to pre-pandemic levels.
Regeneron’s earnings fell more than 70% on a slump in sales of its COVID-19 antibody cocktail after the FDA curtailed its use.
New data from the World Bank shows global food prices across the globe continue to rise at unprecedented rates, with the overwhelming majority of low- and middle-income countries seeing price hikes of 5% or more in the second quarter.
Canadian manufacturing activity lost momentum in July, with S&P Global’s purchasing managers index falling from 54.6 in June to a two-year low of 52.5.
The Mexican government’s inflation-fighting subsidies came at a steep $28.04 billion price tag so far this year, fueling speculation that the country’s central bank will again hike interest rates as inflation persists.
The value of South Korean exports rose 9.4% in July from a year ago, a larger-than-expected pace led by robust demand from the U.S.
Over 5,600 companies in England and Wales filed for insolvency in the latest quarter, an 81% increase from a year ago to the highest level since 2009.
Half of all German companies are struggling with worker shortages, a problem concentrated in the service and manufacturing sectors.
Air Canada missed quarterly forecasts as higher passenger volumes failed to outweigh costs of labor, fuel and congestion.
We and selected third-parties use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL third-party cookies. For more details about cookies and how we use them, read the full Data Privacy Policy.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. For more details about cookies and how we use them, read the full Data Privacy Policy.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-advertisement
1 year
Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Cookie
Duration
Description
__cf_bm
30 minutes
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
bcookie
1 year
LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID.
bscookie
1 year
LinkedIn sets this cookie to store performed actions on the website.
lang
session
LinkedIn sets this cookie to remember a user's language setting.
lidc
1 day
LinkedIn sets the lidc cookie to facilitate data center selection.
UserMatchHistory
1 month
LinkedIn sets this cookie for LinkedIn Ads ID syncing.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Duration
Description
_ga
2 years
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_ga_S6SF7JZ2WY
2 years
This cookie is installed by Google Analytics.
_gat_UA-7828007-1
1 minute
A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
_gcl_au
3 months
Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
_gid
1 day
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT
2 years
YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid
2 years
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
_fbp
3 months
This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr
3 months
Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
IDE
1 year 24 days
Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile.
personalization_id
2 years
Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting.
test_cookie
15 minutes
The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE
5 months 27 days
A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSC
session
YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-id
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextId
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requests
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.