MH Daily Bulletin: March 9

March 9, 2023 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • Each year, M. Holland joins organizations around the globe to celebrate the profound achievements and ongoing efforts of women on International Women’s Day. To celebrate, a few Mployees shared their thoughts on this year’s theme of #EmbraceEquity. Click here to watch the video.
  • Plastics Business published a story written by M. Holland’s Todd Waddle, Director, Sustainability, which reviews key considerations for implementing post-consumer recycled (PCR) and post-industrial recycled (PIR) materials. Click here to read the full article.


  • Oil dropped about 1% Wednesday on fears that more aggressive U.S. interest-rate hikes will pressure economic growth and oil demand.
  • In mid-morning trading today, WTI futures were up 0.9% at $77.37/bbl, Brent was up 1.0% at $83.45/bbl, and U.S. natural gas was up 2.2% at $2.61/MMBtu.
  • U.S. crude stocks fell by 1.7 million barrels last week, defying expectations for a build, according to the U.S. administration.
  • This year’s freefall in U.S. natural-gas prices has upended the acquisitions market and could restrict new drilling, experts say.
Liquefied natural gas will continue to lead growth in U.S. natural gas exports

Supply Chain

Domestic Markets

  • First-time jobless claims jumped by 21,000 last week to 211,000, a ten-week high and the first time in eight weeks that claims have exceeded 200,000. 
  • U.S. economic activity increased slightly in late February while businesses reported a moderation in price increases that they expect to continue this year, the Federal Reserve said in a report.
  • The U.S. trade deficit widened by a moderate 1.6% in January on a strong rise in both imports and exports.
United States Balance of Trade
  • Today the White House is expected to release its budget proposal that will reduce federal deficits by $3 trillion over the next decade.
  • Women are returning to the workforce, outpacing men in job gains for four consecutive months.
  • The FAA is ramping up oversight of Boeing and plans to add nearly 300 employees to its safety office following two fatal 737 MAX crashes in recent years.
  • Japan Airlines is close to ordering more than 20 Boeing 737 MAX jets as the carrier renews its medium-haul fleet.
  • The $900 billion U.S. foodservice industry is still dealing with a severe shortage of workers, experts say.
  • Chipotle Mexican Grill is adding 15,000 jobs across its North American locations in a sign that demand for restaurant food is robust.
  • Campbell Soup raised its annual sales forecast after topping Wall Street estimates for quarterly results.
  • A California-based aerospace startup is aiming to prove the durability of 3D-printed materials with the launch of a 3D-printed rocket into space.

International Markets

  • China’s foreign minister warned that U.S. strategy toward China risks plunging the countries into a conflict.
  • The Bank of Canada left its key overnight interest rate unchanged at 4.5% this week, becoming the first major central bank to suspend its monetary tightening cycle.
  • Canada recorded an unexpected trade surplus of $1.38 billion in January driven by broad-based gains in exports.
  • Ukraine’s year-over-year GDP fell by 26% in February after a 32% drop in January, officials said this week. The nation’s economic minister expects GDP to grow 1% this year.
  • Hong Kong’s Cathay Pacific Airways reported a $834.42 million loss last year but was positive about the outlook for 2023.

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