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Raw of the material have experienced significant growth since the end of 2020. We have made every effort to control and absorb the increases over the last three months. Since after the CNY holidays in February, raw materials have gone up sharply.Copper is up 38%
Alloy's up 48%
Iron's up 30%
Stainless Steel is Up 45%
Plastic is up 35%#hydraulic fitting#hydraulichosefitting#hosefitting#zhujifitting#hose ferrule#adaptadores hidráulicos
Although we have been trying to adjust and control costs recently, we have not been able to overcome the pressure caused by rising raw materials.
It is no longer possible for us to fully absorb the effects as raw material prices continue to rise. We have no other option than to increase the prices of products and solutions.