MH Daily Bulletin: November 2

November 2, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • The use of recycled material was previously limited to plastic products that did not require color. Luckily, new products made from post-consumer recycled (PCR) materials, like carrier resins for masterbatches from M. Holland, can be colored. These resins enable companies to incorporate recycled plastics into their sustainability strategies. Click here to read the blog post.
  • M. Holland is sponsoring the Association of Rotational Molders (ARM) Annual Meeting in Atlanta on Nov. 6-9! Please stop by Booth #19 to meet our team of Rotational Molding experts and learn more about our product offerings and grinding capabilities.

Supply

  • Oil rose 2% Tuesday, buoyed by optimism that China could reopen from strict COVID-19 curbs.
  • In mid-morning trading today, WTI futures were down 0.1% at $88.32/bbl, Brent was down marginally at $94.61/bbl, and U.S. natural gas was up 7.3% at $6.13/MMBtu.
  • U.S. gasoline prices rose for the first time in two weeks to an average of $3.76 a gallon last Friday.
Daily average regular gas and diesel prices in the United States throughout the war in
Ukraine (in U.S. dollars)

Supply Chain

Domestic Markets

  • The U.S. reported 36,332 new COVID-19 infections and 399 virus fatalities Tuesday.
  • Omicron subvariants BQ.1 and BQ.1.1 surpassed the BA.5 strain as the most dominant in New York last week.
  • Pfizer says a pipeline of promising drugs will drive growth even as overall demand for its COVID-19 vaccine declines.
  • Wealthy Americans paid 97% more in estate tax in 2021 as death rates as well as estate values rose during the pandemic.
  • The Dow Jones Industrial Average notched its best October on record with 14% growth.
  • U.S. job openings unexpectedly rose to 10.7 million in September, suggesting the labor market remains tight:
United States Job Openings
United States ISM Purchasing Managers Index (PMI)
United States Construction Spending

International Markets

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