As the Strait of Hormuz reopened and closed again this week, manufacturers across China are navigating a roller coaster of concerns rooted in supply and pricing volatilities.
Soaring oil prices have already filtered through to processed fuel and petroleum-based raw materials that help power China’s manufacturing sector – the world’s largest – and a fragile two-week ceasefire between Iran and the United States is unlikely to restore pre-conflict stability in the near term, according to industry insiders.
“Some companies have begun delaying or cancelling orders,” said Wang Chao, a senior analyst at advisory firm Guangzhou Quantitative Consulting, adding that firms were attempting to avoid passing higher costs to consumers.
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