The Price Hike of Raw Materials is Coming!

In the first year of 2021, the prices of various raw materials have risen sharply. Copper, plastics, aluminum, iron, glass, zinc alloy, and stainless steel have all increased by 30% to 45%.

According to the price monitoring of the business agency, on February 23, 2021, the Shanghai and Shenzhen raw material prices rose and fell a total of 57 commodities, which were concentrated in the chemical sector (23 kinds in total) and non-ferrous metals (10 kinds in total), with an increase of 5% The above commodities are mainly concentrated in the chemical sector; the top 3 commodities with an increase are TDI (19.28%), phthalic anhydride (9.31%), and OX (9.09%). The average daily increase and decrease was 1.42%.

Affected by the “supply shortage” factor, the prices of raw materials such as copper, iron, aluminum, and plastics have continued to rise; due to the collective closure of large global oil refineries, chemical raw materials have soared almost across the board. The affected industries involve furniture, home appliances, electronics, textiles, tires, 12v water  pump and so on.

From the beginning to the end of the year, the paper industry market has continued to rise. Whether it is corrugated paper and boxboard paper made of waste paper, or cultural paper and specialty paper made of wood pulp, they have experienced multiple rounds of rising prices. Breaking new highs repeatedly. According to statistics from the Taizhou Packaging Federation, this year's corrugated paper rose at least 10% year-on-year.

Business executives from all walks of life talked a lot, saying that this price hike has raised the price of raw materials to unprecedented highs. Related companies include mini water pump,range hoods, gas stoves, electric water heaters, gas water heaters, integrated stoves, steam ovens, refrigerators, and washing machines. Manufacturers of products such as air conditioners, bilge pump,bathroom cabinets, shower rooms, hardware, toilets, etc. are all facing huge cost problems caused by rising raw materials.

Faced with rising raw materials, manufacturers will definitely increase product prices to brand owners quickly, and brand owners will not have enough profits to support their development. They will definitely increase channel prices for online and offline channels, and the final retail price may increase significantly.

Raw materials are one of the biggest costs of products. In the face of rising raw material prices, especially in recent years, the price and profit of various industries are transparent, and even the slightest difference will make enterprises unable to survive. For this reason, a new round of price increases may be inevitable.

Many industry insiders said that related products include range hoods, dc water pump,gas stoves, electric water heaters, gas water heaters, integrated stoves, rv pump,steaming ovens, refrigerators, washing machines, air conditioners, bathroom cabinets, shower rooms, hardware, toilets and other products that will increase prices in 2021. Has become a reality.