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Despite Flashing Warnings Regarding Covid Shutdowns, Riboflavin Values Levitates in China

Despite Flashing Warnings Regarding Covid Shutdowns, Riboflavin Values Levitates in China

Despite Flashing Warnings Regarding Covid Shutdowns, Riboflavin Values Levitates in China

  • 02-Aug-2022 3:16 PM
  • Journalist: Xiang Hong

The intermittent lockdowns in China as the government loosened restrictions to coincide with fewer cases and then tightened them once the virus returned have made the country's economic recovery precarious. Factory operations in major industrial centers like Shenzhen and Shanghai have been significantly hampered by increased cases of covid, prompting concerns about disruptions to global supply chains.

In recent months, solid progress has been made in reopening industrial enterprises as the implementation of policies and actions to stabilize the economy has intensified. As a result, a better industrial structure and a noticeable business profitability increase in June have been witnessed. The restart of industry chains following the containment of COVID-19 flare-ups in numerous industrial centers shocked the return of industrial firms' earnings. Unexpectedly, China's factory output dropped in July, erasing earlier economic momentum as rare Covid outbreaks hampered the rebound.

Following the reopening of the markets, some Vitamin manufacturing facilities underwent maintenance, which reduced the availability of Vitamin B2 (Riboflavin) across the country. On the other hand, domestic and international traders' considerable increases in demand have upset market emotions starting in the first week of August. ChemAnalyst reports that vitamin B2 prices are steadily rising in the Chinese domestic market due to rising demand and tight supply.

The Chinese financial markets are sending out red flags that the possibility of future Covid shutdowns could cause economic instability. Particularly at Ningbo-Zhoushan Port in Zhejiang Province, Qingdao Port in Shandong Province, and Tianjin Port, where ports are an essential component of international logistics and play a significant role in global trade demand for logistics services in most container ports in China is growing. The demand from the global market is expected to increase once port activity and commerce in China return to normal. This would further encourage manufacturers to expand their operations in the country and produce more goods, from necessities to commodities.

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