More COVID-19 news relevant to the plastics industry:
After plunging 8% yesterday, oil prices were stable in early trading today, with the WTI at $36.62/bbl and Brent at $38.92/bbl.
Houston and the surrounding county, which account for 20% of COVID-19 infections in Texas, are considering renewing stay-at-home orders and opening a stadium as a COVID-19 hospital. The rising COVID-19 rate is pushing the area to a “precipice of disaster.”
Three quarters of companies report supply chain disruptions during COVID-19 with strains expected to persist through the third quarter.
Companies must embrace greater digitalization in order to convert traditional supply chains to “demand chains” in the wake of COVID-19.
U.S. COVID-19 infection rates are rising in nearly half of states, with hospitalization rates in some approaching critical levels. Infection rates in seven states rose 30% or more in the past week, while Arizona, South Carolina and Texas are running low on ICU beds.
News of a possible second wave of COVID-19 infections deflated recent investor optimism about a recovery, sending the Dow Jones Industrial Average down 7% and the S&P 500 down 6% yesterday, the biggest percentage falls since March. Stock markets were up in early trading today.
The Senate, in discussing the next stimulus bill, is considering allowing companies to accelerate the use of tax credits that normally must be deferred to future years when credits exceed annual tax liability.
A Weekly Pandemic Revenue Index saw revenue among industrial distributors down 1.4% the week ending June 5 with distributors moving “non-essential,” operations and maintenance goods most negatively impacted.
Homebound consumers are opting to replace rather than repair home appliances and looking for more “smart” features.
The COVID-19 era is creating new risks for air travel, warned the FAA, such as control challenges with lighter planes, aircraft wandering from flight plans, anxiety among crew members, and rusty pilots returning to active duty.
An Italian company has developed an antibacterial PLA for 3D printing of personal protective equipment.
Masks can reduce COVID-19 spread by 40%, according to a German study.
A recent study reports on the prevalence of airborne microplastic pollution, which can travel in the atmosphere and return to earth as “plastic rain.”
The U.S. death rate is projected to reach nearly 170,000 by October, according to a model from the University of Washington’s Institute for Health Metrics and Evaluation.
The U.K. economy contracted by 20.4% in the second quarter, negating 18 years of economic growth as the country struggles to tame the epidemic while sorting out life after Brexit.
Puerto Rico, home of M. Holland Export Services, will begin reopening on June 16 after a three-month lockdown.
Thank you to the more than 400 people from over 40 countries who registered for our webinar on materials selection for medical devices yesterday. For those who could not attend, a recording is available here.
For clients seeking the convenience of accessing order status, order history, invoices, bills of lading and other information online, contact Tara Cutaia, Director of Client Experience, to sign up for our proprietary MHX app.