Take a hike: Bike prices will go up again 11.02.2021
Material costs.
Since the start of 2020, aluminum is up 15%, and rubber is up by 50% or more. Steel prices were up about 20% in 2020, and China Steel Corp., Taiwans biggest steel maker, announced another 9.5% price increase on Jan. 14.
Even corrugated cardboard is up 10% in the last year, with a sharp price increase in the commodity cost at the end of 2020.
Freight.
Whether by sea, land or air, moving products around has become slower and more expensive. Contract ocean freights, which are generally set for a one-year period, are up 40%. Spot container rates, which vary constantly depending on the availability of containers and demand, are about 2 ½ times the contract rate.
Even at the high rates, its still difficult to arrange for enough containers, importers said.