BEARING NEWS IN SEPTEMBER

Recently, the most annoying things for foreign traders must be the crazy appreciation of CNY and the increasing of raw material price which almost drive us exporters mad.

EXCHANGE RATE

After confronting with this thing, exchange rate of USD against CNY has risen for 11% since this June. This is really a headache for most exporters in China.

Currency Exchange Rate (CNY against USD)

Besides the currency exchanging rate, The second disturbing thing is the fourth central environmental protection inspection. It inspected on almost every field including rise in price of raw materials and settlement of exchange.

RAW MATERIAL PRICE INCREASING

The raw material price of GCr15 increased 25% from early this year because of the environmental inspection; Baosteel, DT Group, XNTG increased their prices a lot, ranging from RMB 200/MT to RMB 2500/MT; Price for bearing steel tube went up 500RMB/MT since 26^th, August;

Copper price went up around 8% from RMB 47165/MT to RMB 50755/MT since this July, which caused the price rising on bearing cages;

Price of NBR (raw material for bearing seals) went nearly 29% up from RMB 17420/MT to RMB 22460/MT during the last two months;

And the costs of packaging industry, bearing processing industry also went up a lot.

All the above factors come to the situation that almost all bearing factories raised their prices 5% - 15% since August 31^st.

Price in LYC goes up 15% since 14^th September;

FSB 15% since 1^st September;

TMB 15%;

LDK 8%;

...

Some price increasing notices from mills

Many factories have been shut down cause of the strict environmental protection inspection, price remains in the upward trends...

P.S. The Mid-Autumn Festival and National Day of 2017 will be celebrated from Oct.1 to Oct. 8. All services are closed then. Please expedite so we can arrange your production schedule before holiday.