2021-Freight-Exchange-Rate-Raw-Materials

The "Three Mountains" of Foreign Trade in 2021 - Freight, Exchange Rate, Raw Materials

In the blink of an eye, this has been the "three years of the epidemic".

And 2021, which just passed, is a very special year for foreign trade people.

The "Three Mountains" of Foreign Trade in 2021 - Freight, Exchange Rate, Raw Materials

The Spring Festival holiday in 2021 has not cooled the already booming global shipping market. It is difficult to find a container before the festival, and freight rates after the festival have skyrocketed. Ports in Europe and the United States have turned on the congestion mode, and the punctuality rate of routes has plummeted...

At that time, many European and American retailers had already shelved their purchase plans due to the pressure of freight costs, and these buyers would regret it in the second half of the year - it was only halfway up the mountain at that time! Spot rates from Asia to the U.S. West Coast hit a new record of $4,654 per 40 feet in mid-February 2021, according to FBX data.

At the end of February 2021, the first wave of raw material price hikes in the beginning of the year began.

Affected by the shortage of supply, the prices of raw materials such as copper, iron, aluminum, and plastic continued to rise; due to the collective closure of large oil refineries around the world, chemical raw materials soared almost across the board... The affected industries involve furniture, home appliances, electronics, textiles, tires, etc.

In August 2021, there will be a wave of power cuts across the country. The "named" provinces, such as Jiangsu, Guangdong, Zhejiang and other places, have introduced power rationing measures to strictly control the power consumption of high-energy-consuming enterprises. Many foreign trade companies have reported that the local area has begun to "open three and stop four", "open seven and stop seven", and even "open one and stop six".

Price for wick chafing fuel and aluminum foil changed a lot. For more details, please contact us by email or whatsapp directly, thnaks.

In December 2021, the equivalent of one US dollar in RMB (average) is 6.37 yuan.

US dollar to Chinese yuan exchange rate: 1 USD = 6.36657 CNY