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Affected by the unexpected announcement by the United States to impose additional tariffs on China's 300 billion export commodities, the risk aversion in the market increased, and the RMB exchange rate was under pressu.
The RMB "breaks seven", instantly sweeping the circle of friends, and the plastic market exclaimed!!
The devaluation of the RMB has the most direct impact on the plastics industry, which is the import and export tra.
For example, if you import a container of PC particles worth 50,000 US dollars, it will cost 315,000 yuan at the exchange rate of 1 US dollar to 3 yuan in Apr.
With the devaluation of the RMB, foreign prices will not be adjusted immediately, and the CIF price of imported waste plastics will rise within a period of time, which will virtually increase the procurement cost of imported waste plastics and reduce the profit margins of importers, which is very profitab.
In recent years, the contradiction of oversupply in the plastics market has become more and more obvio.
The devaluation of the renminbi will benefit all companies that settle in US dollars and will benefit their exports, but companies that rely on importing bulk commodities will increase their costs and lose a l.
If the manufacturing industry can get better, it will also be good for our indust.
