Profits at China’s industrial firms nearly doubled in March from a year ago, as demand for raw materials has increased and the economy recovers from the pandemic. Photo: Reuters
China’s small manufacturers endure ‘difficult time’ as surging raw material prices drive up costs
- Demand for raw materials has surged in China as the economy has recovered from the pandemic, but that has increased costs for downstream manufacturers
- While big industrial companies have seen profits grow this year, soaring prices for commodities like iron ore are starting to put pressure on smaller firms
