Market Intelligence: Chinese tanners lead raw material buying frenzy
Our exclusive fortnightly market intelligence newsletter reported on March 30 that suppliers of raw material had experienced something of a buying frenzy in recent weeks.
The Leather Pipeline insight report, which subscribers can read here, said fears of hide shortages had sparked an increase in buying activity among tanners, with those in China at the forefront.
It said the business mood in China was confident because the country has now gone nine months with no major disruption from covid-19. The government’s recently published new five-year plan also gives promises of support for manufacturing companies.
Leather manufacturers appear to be among the Chinese companies that are willing to take a less risk-averse approach in their plans for the second half of 2021. They appear to want to increase production and inventories to meet expected demand and consumption.
Image: ECCO Leather
