Global AC Sector Hit by Price Hikes in 2021
In 2020, in order to respond to the COVID-19 pandemic, various countries around the world have introduced various stimulus policies to support eco-nomic development. Due to the excessive currency exchange of the U.S. dollar and the euro, inflation has intensified and is being transmitted and radiated across the world, leading to an overall increase in global commodity prices. The prices of metals used in air conditioners have continued to rise globally since mid-2020. According to Commodity Markets data from the World Bank, the monthly average prices of copper and aluminum, the representative metals used for air conditioners, were US$ 10,161.97/ton for copper and US$ 2,433.53/ton for aluminum in May 2021, showing increases of about 94% and about 66%, respectively, compared with May 2020.
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