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[Ferro-Alloys.com] On 17th, June, the exchange rate of RMB against Dollar was 6.1598 which broke firstly the 6.16 mark. This year the appreciation of RMB exchange rate has risen by 2.06%.
The continued appreciation of RMB against Dollar has made an effect on the Chinese export trade. According to the questionnaire survey on 1,000 enterprises in China, Companies generally reflect that recent export situation was not good and the two major causes of restricting exports are the appreciation of the RMB and lack of external demand. As a result, 83.7% companies said that the export profit decline; 50.7% companies said orders reduce; 38.1% companies choose short or small lists; 21.2%companies didn’t dare to answer order or were forced to give up the performance.
Meanwhile, there were also the same problems in export companies. Because of the influence of high tariff and the rising currency, the present state of ferroalloy exports also was depressed, there were a few exports enquiry and profits of ferroalloy exports further lower. In order to avoid loss brought by the appreciation of the RMB, companies are more cautious to answer and sign a long list; some enterprises even suspend the export business.
Under the RMB appreciation strong situation, risk always exists everywhere. But there is no risk; there will be no returns, so we suggest that ferroalloy export enterprises can't give up order. If signing the long list, you can choose periodic decomposition to avoid exchange rate risk.
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- [Editor:editor]
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