Since May, the rapid rise in steel prices has aroused many concerns.
What caused the price of steel to rise? How does the rise in raw materials affect the sewing machine market?
Affected by the sharp increase in raw material prices, the sewing machine market has also been "rising" recently.
Since the end of 2020 in the sewing machine market, the prices of various metal materials, accessories, core components, chemical materials, control chips, electronic components, etc. have been rising continuously, especially since March 2021. An unseen increase of more than 20%-40% and a certain degree of shortage occurred. In May, some raw materials surged by more than 40%-50%.
Severe shortages have caused pressure on the supply of raw materials and rising costs, which has led to a sharp increase in production costs for many manufacturers, so seriously affected the supply capacity of enterprises. In the past six months, sewing companies have adopted various measures and means to ensure production.
The price of raw materials continues to rise sharply, superimposed on the huge demand brought by the industrial upgrading and the redemption market, which is imperative to increase the price of the sewing machine market.