MH Daily Bulletin: November 9

November 9, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • M. Holland is hosting a free 3D Printing Technology Forum in Chicago on Nov. 16! Attendees will learn how additive manufacturing technologies can support the development of applications — especially injection molding! Click here to RSVP, or contact for more information. 
  • During our recent Plastics Reflections Web Series broadcast, M. Holland’s expert panelists discussed the macroeconomic factors influencing global and domestic markets, including impacts on the plastics industry. Click here to read a recap of the webinar


  • Oil fell 3% Tuesday on growing worries about fuel demand in COVID-hit China.
  • In mid-morning trading today, WTI futures were down 1.4% at $87.68/bbl, Brent was down 1.4% at $94.04/bbl, and U.S. natural gas was down 5.0% at $5.83/MMBtu.
  • U.S. crude stocks rose by a larger-than-expected 5.6 million barrels last week, according to the American Petroleum Institute. Government data is due today.
  • The U.S. Energy Information Administration unveiled a bevy of new data Tuesday, including forecasts for 2023 and beyond:
    • U.S. power consumption will hit a record-high this year due to rebounding economic activity and warmer summer weather. Coal’s share of U.S. power generation will drop from 23% in 2021 to 19% in 2023 as renewable output rises. 
Most U.S. coal is mined in the West, but most coal mining jobs are in the East

Supply Chain

Domestic Markets

What Is Stressing America Out?

International Markets

  • New COVID-19 infections in China hit 7,475 Tuesday, with nearly a third coming from the global manufacturing hub of Guangzhou. The nation’s pandemic controls now impact more than 12% of its GDP.
  • China’s annual inflation dropped to 2.1% year over year in October, the lowest figure since May:
China Producer Prices Change
  • China’s exports to the U.S. fell 13% in October, while producer prices fell 1.3%, the first year-over-year decline since 2020. 
  • China expanded a private lending program to support its struggling property sector, where defaults are at record levels. 
  • Japanese manufacturing optimism dropped to a 22-month low in November.
  • Inflation in Chile fell to a surprise eight-month low in October, rising just 0.5%.
  • Gap is selling its business in China and Tawain for $50 million, the latest retailer to back away from China’s ultrastrict COVID policies. 
  • London-based Barclays started cutting jobs across its investment-banking group as recessionary fears stymie deals. It joins Citicorp and other major banks in cutting staff. 
  • EU officials started a heightened antitrust review of Microsoft’s proposed $69 billion bid to acquire Call of Duty-maker Activision Blizzard.
  • LATAM Airlines, South American’s largest carrier, more than halved last year’s quarterly loss on a 97% surge in third-quarter revenue
  • Mexico is raising its 2030 emissions-cutting target from 22% to 30%.

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