Product price increase due to iron ore price increase

Product price increase due to iron ore price increase

The price of iron ore has risen wildly recently, breaking records for many years. The increase in the price of iron ore directly leads to the increase in the price of steel raw materials, which affects countless related industries. As a snacks machinery and pet food equipment manufacturer, most of our spare parts are related to steel. Therefore, in the case of a sharp increase in the price of steel, various accessories such as motors, steel, sheet metal, bearings, etc. have also increased in price accordingly. In the end, we cannot withstand the huge cost increase pressure. We plan to increase prices next year for customers. Allow a buffer time of about one month. Customers who purchase machinery and equipment during this period can also enjoy preferential policies for some of our stored products.