Will the war between Russia and Ukraine affect the cashmere market?

The cashmere market in China is stable after CNY holidays, even the demand is not strong, but it is getting more and more slowly. With loose monetary policy and widespread inflation expectations, market is more positive.

Unfortunately the war between Russia and Ukraine broke out on FEB.24,2022. It affected the global economy. U.S. stocks fell sharply, triggering a financial crisis. In the short term, the war reduced the role of Euro in the international monetary system, it is helpful for money flowing back to the U.S., at the meantime, part of the money flowed to China and it promoted the status of Chinese currency CNY in the world. The foreign exchange rate between CNY and USD is stronger and stronger.

The price of international oil is increased lot due to the war, it affected the consumer demand directly. In the short term, cashmere market are volatile. In the long term, cashmere market may getting weak and weak by steps with the global recession.


Post time: Nov-30-2020