U.S. House of Representatives Passes Miscellaneous Tariff Bill Act
The U.S. House of Representatives passed H.R. 4318, known as the Miscellaneous Tariff Bill Act to eliminate $1.1 billion of import tariffs over the coming three years. The bill is projected to increase U.S. manufacturing output by more than $3.1 billion.
Chinese New Year: February 16, 2018
With the Chinese new year & holiday season rapidly approaching, companies throughout the chemical and raw material supply chain should be acutely aware of the holiday season, and prepared for short and long-term delays in processing orders and logistics concerns.
Market, Industry-Wide Demand Strong
A reported 67% of businesses throughout the market, in all industries are reporting increased and excessive demand, even with the massive tightness throughout trucking and logistics.
Product Pricing Trends & Updates
- U.S. orthoxylene contract price up $.035 to $.41/lb, or $904/t
- Oil cost sinks slightly, to $63/barrel. Record amounts of oil came out of United States soil in 2017, raising concerns of a potential glut