Vacuum cleaners and vapes could get more expensive if the Iran war drags on for much longer, Chinese factory owners and traders warn, as the world’s manufacturing hub reels from “crazy” costs, AFP reports.
Manufacturing giant China has been comparatively sheltered from fuel shortages thanks to oil reserves and renewable energy, but local factories are picking up a ballooning raw materials bill.
“Basically, we’ve been losing money on all our orders,” said Bryant Chen, a manager at vacuum cleaner factory RIMOO in southern Guangdong province’s Foshan.
The price of plastic has risen roughly 50 per cent since before the Iran war, Chen told AFP as workers behind him fastened suction tubes to metal tanks.
