When the war broke out between Russia and Ukraine, with the world situation was turbulent, the resulting knock-on effect quickly spread to various industries.
Jennifer McKeown, head of global economic services at Capital Economics, an independent economic research firm, said the important impact on Asia will come from the impact on consumer demand and export demand.
For raw material
According to the China Keqiao Textile Index released on March 8, since March, the stock of weaving enterprises has increased, the transaction of polyester has increased day by day. But in recent days, prices have come down slightly.
For factory
Affected by raw materials, market sentiment also fluctuates, and many manufacturers start to hold on to inventory.
However, the current COVID-19 is not yet optimistic, and some factories in China have to cut production or stop production affected by this, and the corresponding order will also be delayed.
For delivery
The China-Europe freight train service is the main conduit for land freight transport between China and Europe.
Recently, the average delivery time has become longer. Some land transport routes have been affected by the war and have been suspended, which is also one of the results affected by the current situation. In this regard, the conventional lines of the China-Europe freight train have also been adjusted accordingly.
Since the war, some of Chinese exporters have received feedback from customers to postpone payment, delay delivery and reduce the number of orders.
But on the bright side, Russia’s external demand for commodities and raw materials are expected to shift to China, which analysts expect to push up Chinese exports on the other hand.
And here is another fact that all the production capacity will be full again from May or June，as there is another event as Asia Games in Sep in Hangzhou where is the main base area for fabric dyeing. As dyeing factories maybe closed for around 2 weeks because of Asia Games，we suggest that all our partners for workwear industry to consider the order plan out of abundance of caution, and left enough space for delivery expectation. Any needs, welcome to contact us.
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