Excerpt from Fortune.com
“A global rush for raw materials means Chinese factories are facing the fastest rise in input prices in almost 26 years, and Beijing has said factories could face a 20% hike in their electricity costs due to a power crunch.“
Excerpt from Global Times
“As steel prices rise, so do downstream industries’ costs,” a source at Xuzhou Construction Machinery Group Co told the Global Times.
China’s steel prices have experienced high volatility since May 1. The price of steel rose by more than 1,600 yuan ($250) per ton in a span of two weeks, before the government’s response that cut the price in half.
Excerpt from Barrons
“The trend of companies “reshoring” their workforces has accelerated this year, according to a new report from a nonprofit that tracks the trend. The U.S. is on track to add 220,000 jobs from reshoring or foreign direct investment in 2021, up from a record 160,000 jobs in 2020, according to the Reshoring Initiative, which promotes reshoring and helps manufacturers set up shop in the U.S.”