During M. Holland’s Plastics Reflections webinar last week, our panelists discussed the macroeconomic factors influencing global and domestic economies — including what it means for suppliers, distributors and manufacturers in the plastics industry. In case you missed it, click here to gain access to the full recording.
M. Holland, in collaboration with LyondellBasell, will boost medical packaging manufacturers’ access to medical-grade resins and help ensure regulatory confidence for OEMs. Click here to read the full press release. A recent Plastics News article also highlighted the agreement.
Oil plunged 3% Friday due to recessionary fears and weak global demand, especially in China.
In mid-day trading today, WTI futures were up 0.1% at $86.37/bbl, Brent was up 0.1% at $92.38/bbl, and U.S. natural gas was down 7.3% at $5.97/MMBtu.
Norway is beefing up security for energy infrastructure after a large drone was spotted flying over a gas processing plant on Friday.
The pandemic boom in warehouse demand is starting to slow as companies manage down high inventories, with average vacancy rates inching up from 3% to 3.2% in the third quarter.
Slowing demand from the West is reducing Chinese exports and easing U.S. port congestion and container shortages after two years of historic disruption.
Fewer than 100 container ships were awaiting berths at U.S. ports as of Friday, down 35% from the recent peak, with the biggest backlogs off Houston and Savannah.
U.S. business inventories rose a lower-than-expected 0.8% in August but remained historically high, which could lead to a manufacturing slowdown in the coming year.
Airfreight volumes out of the Asia-Pacific region were down 22% year over year at the start of October.
U.S. railroads averaged 252,826 intermodal loads per week in September, down 4.8%, marking the seventh consecutive monthly decline in the past 15 months.
A fifth rail union agreed to a tentative contract facilitated by a Presidential Emergency Board, leaving six left to ratify the agreement.
U.S. barge rates are up about 200% year over year amid drought conditions on key waterways tied to the Mississippi River, drawing attention to the transportation mode that handles half of U.S. grains and soybeans for export.
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