MH Daily Bulletin: January 13

January 13, 2023 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • M. Holland is the headline sponsor for AMI’s Thermoplastic Concentrates in Orlando on Jan. 24-26. Stop by Booth #16 to speak with our experts and attend a talk on regulatory compliance changes by Christopher Thelen, M. Holland’s Senior Regulatory Specialist, on Jan. 24 at 4:20 pm.
  • 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.

Supply

  • Oil gained 1.5% Thursday on news of further declines in U.S. inflation and optimism about economic recovery in China. Crude prices are on pace for a 6% gain this week.
  • In mid-morning trading today, WTI futures were up 0.7% at $78.97/bbl, Brent was up 0.5% at $84.47/bbl, and U.S. natural gas was down 3.5% at $3.57/MMBtu.
  • The White House indicated it is open to releasing more crude from strategic reserves should the need arise.
  • The cost of energy in the U.S. rose at a much slower 7.3% year-over-year pace in December, down from a 13.1% rise the previous month, according to the latest inflation data:
United States Energy Inflation

Supply Chain

Flags of Convenience Dominate Maritime Freight

Domestic Markets

  • The U.S. reported 63,240 new COVID-19 infections and 678 virus fatalities Thursday.
  • COVID-19 cases are up 90% the past two weeks in Florida.
  • Over 7,000 nurses at two New York City hospitals returned to work Thursday after reaching a deal to end a strike.
  • The U.S. cancer mortality rate has dropped by one-third over the past three decades due to changes in preventive measures and screening.
  • U.S. consumer prices unexpectedly fell 0.1% in December, the first month-over-month decline in 2.5 years, amid declining prices for gasoline, cars and other goods. Annual inflation, meanwhile, dropped to 6.5%, the sixth straight monthly slowdown.
Inflation Cools to 14-Month Low in December
  • The U.S.’s latest inflation data is likely to keep the Federal Reserve on track to reduce the size of interest-rate increases to 25 basis points at its next meeting on Feb. 1.
  • The U.S. government’s December budget deficit quadrupled from a year ago to $85 billion. Receipts shrank modestly but outlays grew to a new December record.
United States Government Budget

International Markets

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.