Raw materials such as stainless steel, aluminum alloy, and plastic have all seen price increases – have the prices of the equipment you purchase gone up as well?

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By the end of 2020, many industries were affected. In those industries where mechanization was increasing, price increases in raw materials led to higher costs for purchasing production equipment. According to statistics from December last year, copper prices rose by 38%, plastics by 35%, aluminum by 37%, iron by 30%, zinc alloys by 48%, and stainless steel by a staggering 45%. These price increases affected a wide range of industries and products, with rapid rises and astonishing levels of increase! Faced with the sharp rise in raw material prices, suppliers of production equipment have all raised their prices, which means that the cost of purchasing such equipment will see an increase. However, the exact extent of this price increase varies depending on the industry. It is understood that in response to the increase in raw material prices, suppliers in the air compressor industry have already raised their prices; as a result, there will be an increase in the cost of purchasing air compressors after the New Year. More importantly, based on the existing trend in the prices of various raw materials, they are still on a spiral upward trajectory in the short term. On the one hand, due to the impact of the pandemic, overseas mining companies are operating at reduced capacity, and international logistics are not entirely smooth, resulting in a limited supply of raw materials; on the other hand, demand from downstream industries is relatively strong. Especially after the pandemic drove more manufacturing orders overseas to China, demand for various bulk raw materials in the domestic market remained strong, and the shortage of supply contributed to a continuous rise in raw material prices. Friendly reminder: Those who plan to purchase mechanical and electrical equipment should put it on their agenda as soon as possible, as the pandemic, particularly in the Western countries led by the United States, is still far from over. 【Lantern Festival】Wish all my friends continued success in their endeavors, family unity, and happiness for the whole family.