Market Update 30/09/21
We provide regular update about the wire prices and shipping updates.
The shipping rate is likely to have peaked at this time. For example, Route to East Coast America has decreased from 24k at its peak, as COSCO is adding vessels to alleviate the shortage. European Routes also shows signs of weakening. We hope to pick up business from European countries. We continue to ship out wire products from TIANJIN PORT .
One speculated reason is the affordability. Buyers and importers have long complained the exorbitant price level. At this price level, importers are increasingly having trouble to afford the rate. Shipping lines have no choice but to lower the price level. To find a reliable and trustworthy partner in China for your supply chain, contact us.
Another big news is the looming Energy Crisis in China. Companies are ordered to reduce electricity usage. The steel prices have all gone up in response as the production level is reduced and only stock is relied on for strong demand. We are located in BEISI INDUSTRIAL ZONE, JINZHOU CITY, HEBEI and are less severely impacted by this.
Public holiday, the GOLDEN WEEK, in China will begin, tomorrow from 1st October to 7th October, there will be disruptions for shipping schedules and processing time. So plan ahead for any unexpected change such as Telex Release or Container booking.