‘Cancelling orders’ in China: how Hormuz oil crisis is hitting transport, manufacturing
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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..
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..
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