The COVID-19 crisis has deepened, with the federal government estimating U.S. deaths could range from 100,000 to 240,000. Here’s more COVID-19 news relevant to the plastics industry:
Supply
U.S. crude futures rose 1.9% Monday to $20.48/bbl., down 54% in the month of March and 66% in the quarter.
Gasoline prices dipped below $1 a gallon in some parts of the country.
Demand for face masks, already in short supply, could surge further if the CDC adds wearing face masks to its public health recommendations, as it is now considering.
Goldman Sachs revised its estimates for second quarter economic growth downward, now expecting a contraction of 34% from first-quarter GDP. Unemployment in the second quarter is now expected to top 15%.
M&A activity has ground to a halt as companies and investors preserve cash.
M. Holland is open for business, deemed essential and will continue to operate at full capacity. We have issued the following status statement:
In accordance with the guidance provided by the U.S. Department of Homeland Security Cybersecurity & Infrastructure Security Agency (CISA), M. Holland Company is considered a member of a critical infrastructure industry and will therefore remain operative. As such, with any necessary accommodations made to ensure the health and safety of our staff and business partners, we will continue to fully perform our normal business operations.
Thank you,
M. Holland Company
We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.