MH Daily Bulletin: May 17

May 17, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • Lindy Holland-Resnick, Market Manager for Packaging at M. Holland, is presenting during the upcoming Re|focus Sustainability & Recycling Summit in Cincinnati, Ohio. Her session on Developing a Sustainably Minded Staff will cover how to create a holistically sustainable company from top to bottom. If you’re attending Re|focus, don’t miss Lindy’s session on Tuesday, May 24 at 11:15 am ET.
  • 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.
  • If you’re attending the Injection Molding & Design Expo in Detroit, check out M. Holland’s speakers during the show:
    • Haleyanne Freedman, M. Holland’s 3D Printing Market Manager, will be discussing Open Platform Adoption in Additive Manufacturing. Don’t miss her presentation in the Designing the Future Theater on Wednesday, May 25 at 4:00 pm ET.
    • Josh Blackmore, M. Holland’s Global Healthcare Manager, is facilitating a training seminar on Understanding Material Selection for Medical Devices, from Qualification to Approval. Mark your schedules for this session in the Training and Development Theater on Thursday, May 26 at 9:15 am ET.

Supply

Natural gas production in the Bakken region grew while crude oil fell in 2021
  • South Africa’s largest utility expanded outages yesterday to prevent a grid collapse due to a lack of diesel and coal imports. 
  • Sri Lanka is down to one day’s supply of gasoline, officials said, as the cash-strapped island battles its worst economic crisis in decades. 
  • TotalEnergies is partnering with a French power company to buy a renewables electricity provider for over $1.5 billion
  • More oil news related to the war in Europe:

Supply Chain

  • New Mexico’s Calf Canyon wildfire spread to over 298,000 acres Monday, becoming the largest in state history. 
  • Costa Rica declared a state of emergency amid a month of crippling ransomware attacks on its government, which expanded to 27 agencies Monday. 
  • In the latest news related to Chinese lockdowns:
  • CMA CGM aims to speed up cargo movement with a $300 payment for each container a shipper returns to select terminals within four days of pickup. 
  • XPO Logistics’ plan to become a pure less-than-truckload carrier by the fourth quarter is taking shape, with the firm’s freight forwarding unit entertaining offers up to $600 million
  • First-half orders were up 40% year over year at Milwaukee-based Rockwell Automation, a supplier of robotics software and other industrial technologies, as companies look to automation to mitigate supply chain challenges. 
  • Saudi Arabian airline Saudia will double its freight fleet by converting seven Boeing 777s from passenger to freight carriers. 
  • An Israeli maker of chassis for electric commercial vehicles is building a new plant in England to produce 10,000 units annually. 
  • With rising U.S. mortgage rates crimping housing demand, lumber futures hit a two-year low Monday and are down 50% from early March: 
Lumber (USD/1000 board feet)

Domestic Markets

United States NY Empire State Manufacturing Index

International Markets

  • Shanghai plans to broadly reopen on June 1, a city official said, after 15 of its 16 districts reported zero new COVID-19 cases outside quarantine areas. New infections hit a two-month low yesterday.
  • Lockdowns were expanded to more areas in Beijing. 
  • South Africa is seeing a fifth wave of COVID-19 despite 91% of its population having virus antibodies from vaccination or previous infection. 
  • North Korea’s “fever cases” rose to 1.5 million in a month, the nation said. 
  • Canadian consumer confidence logged its sharpest weekly decline since the start of the pandemic last month, as the nation faces similar economic headwinds as the U.S. 
  • Mexico is waiving import duties for one year on a range of household staples, mostly foodstuffs, in a bid to curb inflation. 
  • Thailand’s economy grew 2.2% in the first quarter on a rise in tourism and exports following the lifting of COVID-19 restrictions. 
  • Israel’s economy contracted a surprise 1.6% in the first quarter. 
  • Venezuela is starting to sell 10% stakes in many of its largest state-owned firms, including petrochemical producers and telecom providers, after years of neglect and mismanagement. 
  • Chinese consumer spending and factory output tumbled in April, new data shows, while the unemployment rate surged to a two-year high of 6.1%. Fiscal revenue fell 41% as the government returned more money to help taxpayers deal with lockdowns. 
Chinese Economic Indicators Tumble in Prolonged Lockdowns
  • The U.S. administration loosened some travel restrictions and expanded commercial opportunities with Cuba. 
  • A proposed $7 billion deal between Dublin firms SMBC Aviation Capital and rival Goshawk marks a continued streak of consolidation in the global aircraft leasing industry. 
  • Plug-in hybrids make up only 2% of all new-car sales in Australia, well below the global average of 13%, even as electric vehicle sales tripled last year. 
  • More news related to the war in Europe:
  • Japan would need over $1.2 trillion of investment the next decade to have a chance of meeting its 2050 climate goals, analysts say. 
  • New Zealand will set up a $2.83 billion fund dedicated to cutting pollution over the next four years.  
  • A French firm said it produced the world’s first carbon-neutral flat glass for use in building construction. 

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