During M. Holland’s recent Plastics Reflections webinar, 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.
A recent Plastics News article focuses on M. Holland’s distribution of Purell medical-grade resins from LyondellBasell. Click here to read the article.
Oil rose Friday, with Brent ending the week higher and WTI ending the week slightly down. U.S. natural gas fell over 25% in its ninth straight weekly decline.
In mid-morning trading today, WTI futures were down 0.1% at $84.94/bbl, Brent was down marginally at $93.48/bbl, and U.S. natural gas was up 3.9% at $5.15/MMBtu.
Refined fuel exports from China rose 36% year over year in September, while crude imports fell by 2%, indicating continuing weakness in the domestic economy. Refinery output was up 1.9% year on year to 56.81 million tonnes, its first year-on-year rise since last November.
Soaring diesel prices have overtaken driver shortages as the primary concern in the trucking industry, new polls show.
The National Motor Freight Traffic Association (NMFTA), which oversees pricing in the less-than-truckload industry, is overhauling its rating system in a bid to simplify and more accurately reflect shipping costs.
A freight payment index developed by U.S. Bank dropped to its lowest level in 1.5 years last quarter as freight volume returned to levels seen in the first quarter, off 4.9% from a year ago.
Policymakers see U.S. interest rates rising to a median of 4.6% next year, with a 75 basis-point hike expected at the Federal Reserve’s next meeting on Nov. 1-2. U.S. stock markets jumped higher last week on word that the central bank may consider softening its interest-rate increases.
British retail sales dropped a larger-than-expected 1.4% from August to September. Ratings agency Moody’s lowered the nation’s outlook from “stable” to “negative” due to ongoing political turmoil.
Japan intervened in the foreign exchange market for the second time in a month on Friday to prop up its currency, while lawmakers separately considered a stimulus package of $100 billion or more to cushion fuel and raw material prices.
Argentina’s central bank kept its benchmark interest rate at 75% last week following better-than-expected inflation data for September.
China’s president secured a precedent-breaking third leadership term Sunday, cementing power in one of the strongest administrations since Mao Zedong. China’s stock markets fell to a 14-year low on concerns about the concentration of authority.
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