Industrial Sector Cost Report – September 2022

European energy crisis after Russia's invasion of Ukraine. World

Industrial Sector Cost Report – September 2022

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September 2022

What’s happening this month in the industrial sector? Read on, as the GCP team examines recent price movements, economic trends and news, from around North America. 


Included below are a few points highlighted from the report,

  • Raw Material Pricing: Price decreases in the rubber industry are slowly making their way to market.
  • Ocean Freight Rates: GCP’s average twenty-foot equivalent unit (TEU) container pricing out of China is now 72% lower than it was at the start of the year.
  • Trucking Costs: Tender rejections, load-to-truck ratios and diesel prices are all down leading to lower rates across the board.
  • Port Congestions: U.S. East Coast ports continue to see challenges with vessel congestion while U.S. West Coast ports see some improvements.
  • Labor Costs/Shortages: The tight labor market continues to impact business productivity as businesses raise compensation in order to retain and attract workers.
  • Energy Prices: The Russian war on Ukraine, has created arguably the biggest shock to the global energy system since the oil crisis of the 1970s.
  • U.S./China Relations (tariffs): The White House review of U.S.-China Section 301 tariffs has been put on hold.
  • Inflation: Reports of the death of the inflation surge were greatly exaggerated.

For a deeper look into all these topics and more open the full report in the link below.

This months report is 3553 words, 11 minute read.


Click Here to View The Full Report