M. Holland will be exhibiting at MD&M West in Anaheim on Feb. 7-9. Stop by Booth #4115 to meet our Healthcare team and discuss how M. Holland’s line of medical-grade resins can help you develop safe and effective medical products and packaging.
Every year, M. Holland’s market managers take time to reflect on the major trends of the past 12 months. Click here to read M. Holland’s 2023 Plastics Industry Trends & Predictions, including business insight and recommendations for the 3D printing, automotive, color and compounding, electrical and electronics, healthcare, packaging, rotational molding, sustainability, and wire and cable markets.
Automotive, Electrical & Electronics and Wire & Cable were top performers in 2022 as electrification incentives and digitalization efforts expanded market opportunity. Click here to read 2023 predictions from our market managers for these three markets.
In mid-morning trading today, WTI futures were down 0.4% at $78.58/bbl, Brent was down 0.7% at $84.86/bbl, and U.S. natural gas was off 3.0% at $2.60/MMBtu.
U.S. crude stocks likely rose by 6.33 million barrels last week, according to the American Petroleum Institute, spurring oversupply concerns among traders.
Refiners Marathon Petroleum and Phillips 66 beat Wall Street profit expectations as margins soared amid tight supplies and high demand for refined products.
In a blow for environmentalists, the White House is considering approving a scaled down ConocoPhillips plan for oil drilling in Alaska.
More news related to the war in Ukraine:
European gas prices shot up 11% Tuesday in anticipation of a cold spell across the continent.
Power output dropped in France Tuesday as workers walked off the job in protest over pension reforms.
Gazprom’s piped natural-gas exports to Europe fell almost 30% in January to a record-low.
Tightened Chinese restrictions on exports of solar technology could delay U.S. plans to build a domestic supply chain, as China currently accounts for nearly all global production of several key components.
A large portion of the U.S. was hit by a winter storm Tuesday that forced the cancellation of over 1,700 flights and disrupted travel from Texas to West Virginia.
Seven western states that rely on the Colorado River failed to meet a Jan. 31 deadline to revamp their century old agreement on water allocations from the river, which is drying up after two decades of drought.
A Clarksons Research index of daily port congestion dropped to 31.5% this week, down from a high of 37.8% in July and in line with pre-pandemic levels.
U.S. trucking executives expect to see a return to a more normal ordering cycle in the second half of 2023, with bigger volumes seen ahead of the autumn shopping season.
A surge in first-half freight rates last year led Hapag-Lloyd to a 38% gain in annual revenue to a total of $36.4 billion.
Orders for new railcars in the U.S. fell 57% in the fourth quarter.
Demand and output for cardboard boxes and other packaging material fell sharply in the fourth quarter.
Economists say China’s reopening is pressuring supply chains and raising commodity prices, with the potential to worsen global inflation.
South Korea’s SK Hynix, the world’s second-largest memory chipmaker, reported a record fourth-quarter operating loss and said it expects an industry downturn to worsen in the first half of 2023.
U.S. chipmaker AMD reported a 98% decrease in quarterly profit to $21 million, a result of higher operating costs and weak PC demand.
The automotive supply chain is widely expected to face another challenging year due to the pandemic’s lingering effects and continued computer-chip shortages.
About 18% of people with long-COVID haven’t returned to work for more than a year after falling ill, according to a recent study.
U.S. wage growth slowed to a 1% pace last quarter, the lowest in a year, bolstering expectations that the Federal Reserve will hike rates by just 25 basis points at its meeting this week.
According to ADP, private sector employment grew by 106,000 in January, while wages were up 7.3% from a year earlier.
U.S. stock indexes saw strong monthly gains in January due to increasing confidence that interest rates are nearing their limit.
U.S. consumer confidence unexpectedly fell in January as households continued to worry about economic prospects over the next six months, the Conference Board said.
Boeing has delivered its last 747 aircraft, marking the end of production for the “Queen of the Skies” jumbo jet that revolutionized air travel in the 1970s and remained in use for decades.
Up to half a million teachers, civil servants and transit workers walked off their jobs yesterday, “Walkout Wednesday,” demanding better pay.
The number of companies going insolvent in England and Wales rose 57% last year to the highest level since 2009.
Italy’s economy contracted by 0.1% in the fourth quarter, increasing concerns about a potential recession.
China’s official gauges measuring manufacturing, services and construction activity all rebounded sharply in January, with the Purchasing Managers Index rising above 50, the demarcation between expansion and contraction.
Profits at China’s industrial firms fell 4% in 2022 due to the impact of COVID-19 curbs, but an expected recovery this year could revive the sector’s sales.
Canada’s economy grew by 0.1% in November and likely stayed flat in December.
Banks are trying to reduce unsold loans from buyouts in the cheap-money era by refinancing the debt or selling chunks in secondary markets, limiting their capacity to underwrite M&A transactions.
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