Chinese Yuan Devaluation to US Dollar Adds Difficulty for Hide Buyers

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Chinese Yuan Devaluation to US Dollar Adds Difficulty for Hide Buyers

Alexandra Watts | 07.14.2023

The US hide market was active this week with buyers paying steady prices to $1 lower.
Tanners in China were hesitant to pay higher prices due to the ongoing devaluation of Chinese Yuan to US Dollar, making the purchased material more expensive in terms of CNY. According to US hide sellers, drop split prices in China also decreased this week which adds to the hesitation from buyers to purchase new material.
Additionally, a few sellers stated their inventories are almost full and...

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