The RMB’s “ferocious” appreciation began in 2021. Just two trading days, RMB is increasing nearly 1,000 points. On January 4th, the onshore RMB opens at a spot rate of 6.5195 against the dollar, closing at 6.4628 at 16.30, Over 6.5, Up to 6.4579, Increase over 600 basis points, the offshore yuan also rose 6.49 and 6.45 against the dollar, Over 500 basis points, set a new high since June 2018. 5 January, The RMB exchange rate stands at 6.4, did not go out of the “one-day tour” market. The onshore currency was at 6.4292 against the dollar, within the day to break through four passes. The offshore yuan rose nearly 400 points against the dollar, the maximum is 6.4129. The onshore currency closed at 16:30 to 6.4640, with the last trading day is basically the same. 6 January, A 156 basis point increase in the yuan’s median price, 6.4604. On January 7th, a four-point cut in the median price, 6.4608. Seven months up nearly 10%, the first working day of the year rose 6.5, Countless foreign trade people are asking “what’s wrong “. According to a recent Reuters survey of 85 foreign exchange analysts, In the short term, All the factors conducive to RMB appreciation will continue, The yuan is expected to appreciate to about 6.4 yuan by the end of 2021. Push in wire connectors, 20 pin ribbon cable and plastic reflectors field should be carefully.
Freight never stops
Europe’s mediterranean routes soared on the first day of the new year after the u.s. freight rate suddenly lost control on december 28,2020, nearly 10% higher than the previous day.
Baltic daily freight rate index (Freightos Baltic Daily Index) released the global average container freight index on January 1, jumped from $3377/ FEU on 31 December to $3740/ FEU, on 1 January The increase was 10.75%, 2.5 times the average $1497/ FEU rate in the same period last year.
1 January 2021, China/East Asia-Nordic shipping rates hit record highs, $6992/ FEU, Compared with the last day of 2020, December 31 freight rate $5662 overnight jump 23.5.
1 January 2021, China/East Asia-Mediterranean shipping costs hit record highs, $7101/ FEU, reached it jumped 25.8 percent from December 31, 2020.
The Shanghai Container Freight Index SCFI report shows that South America’s freight rate has exceeded 8000 USD/TEU to $8173/TEU, the first time SCFI the route’s freight rate has broken 8000.
According to the notice issued by the shipping company, following the increase in the surcharge in mid-December, some shipping companies began to implement the general rate increase from January 1(GRI).
The exporter who signed the CIF、 letter of credit at the same time is a customized product. In the face of the extremely high sea freight, even if the price is not necessarily available, even if the SO (shipping order) does not necessarily have a cabinet. But this is the real portrayal of the foreign trade to be shipped in the near future.
Post time: Jan-27-2021