News for UK importers
What's moving in importing.
Shipping and freight rates, factories in China, trade fairs, UK import rules and the pound against the dollar. Short, sourced, and written for businesses bringing in full containers from China.
Pound up 1.2% against the dollar
£1 bought $1.3500 on 4 Nov, up from $1.3335 on 16 Oct. Dollar invoices now cost less in pounds.
Canton Fair Phase 2 opens with furniture, garden supplies and home décor
The home phase of the 140th Canton Fair runs in Guangzhou from 23 to 27 October, covering furniture, garden supplies, home décor, household goods and tableware.
Shanghai to Rotterdam spot rate rises 3% to $3,632 as blank sailings increase
Drewry's World Container Index for 22 October put Shanghai to Rotterdam at $3,632 per 40ft, up 3%. Drewry expects Asia to Europe rates to rise slightly again next week.
Jinhan Fair for home and gifts opens in Guangzhou alongside the Canton Fair
The 54th Jinhan Fair for Home & Gifts runs from 21 to 27 October at PWTC in Guangzhou, overlapping Canton Fair Phase 2. About 1,200 manufacturers are showing home decor, gift, garden and decorative furniture lines.
Mega Show Hong Kong opens with housewares, Christmas and outdoor ranges
The 33rd Mega Show opened at the Hong Kong Convention and Exhibition Centre on 20 October. Part 1 runs until 23 October and Part 2 from 27 to 29 October, with more than 3,000 exhibitors expected.
Chinese New Year 2027 falls on Saturday 6 February
Lunar New Year's Day 2027 is Saturday 6 February, according to Hong Kong's official holiday list. Mainland factory closures will centre on that date, so orders for early spring need planning now.
Gemini expects nearly all its services back through Suez by early 2027
Hapag-Lloyd's chief executive expects almost all Gemini services to route via Suez in the first quarter of 2027. The Premier Alliance's first Suez-routed FE1 sailing to North Europe was due to leave Asia on 19 October.
Canton Fair Phase 1 draws a record 189,000 overseas buyers before the home phase
The first phase of the 140th Canton Fair closed on 19 October with 189,000 overseas buyers from 214 countries and regions, up 13.3%. Phase 2, covering furniture, garden and homeware, opens on 23 October.
Global Sources Hong Kong opens second phase with lifestyle and outdoor products
Phase 2 of the Global Sources Hong Kong shows runs from 18 to 21 October at AsiaWorld-Expo, covering smart home and appliances, gifts and lifestyle goods, pet products and sports and outdoor gear.
HMRC publishes CBAM rates method, default values and emissions guidance
HMRC has explained how quarterly CBAM rates will work, published default emissions values for each sector and added guidance on emissions data, ahead of the start on 1 January 2027.
Pound up 1.0% against the dollar
£1 bought $1.3335 on 16 Oct, up from $1.3201 on 2 Oct. Dollar invoices now cost less in pounds.
Asia to Europe spot rates rise after 13 weeks of decline
Drewry's Shanghai to Rotterdam rate rose 6% to $3,522 per 40ft on 15 October, the first Asia to Europe rise after 13 weekly falls. Carriers are seeking FAK levels of $4,500 to $4,800 from 19 October.
China's September exports jump 36.3% as factory-gate prices rise 5%
China's exports rose 36.3% in September to a record $447.18 billion, helped by a rush before Golden Week. Producer prices rose 5.0% year on year, led by mining and metals, while wood processing prices fell.
HKTDC confirms Hong Kong lighting fairs for 26 to 30 October
The Hong Kong Trade Development Council's autumn lighting fair runs from 27 to 30 October at the Convention and Exhibition Centre, with the Outdoor and Tech Light Expo at AsiaWorld-Expo from 26 to 29 October.
China to scrap export VAT rebates on bamboo products from 1 April 2027
China's Ministry of Finance and State Taxation Administration will remove export VAT rebates on 24 product codes, 20 of them bamboo goods, from 1 April 2027. The rebate on new energy vehicles falls from 13% to 9%.
Asia to Europe spot rates fall for a twelfth week as carriers plan October rises
Drewry's Shanghai to Rotterdam rate slipped 2% to $3,399 per 40ft, a twelfth straight weekly fall on Asia to Europe. MSC has set a $4,500 per 40ft FAK rate to North Europe from 19 October, but forwarders doubt it will stick.
Pound down 1.1% against the dollar
£1 bought $1.3201 on 2 Oct, down from $1.3344 on 18 Sep. Dollar invoices now cost more in pounds.
China's official PMI returns to growth in September as input costs climb
The official manufacturing PMI rose to 50.1 in September, back above the 50 line, and the RatingDog PMI hit a five-month high of 52.1. Input price measures in both surveys rose sharply.
Global schedule reliability falls to 49.9%, the lowest since 2022
Sea-Intelligence said only 49.9% of container ships arrived on time in August, the lowest since September 2022. Late ships averaged 6.81 days behind schedule, against a backdrop of severe congestion in Asia.
CIFF Guangzhou sets March 2027 dates, with outdoor furniture in the first phase
The 59th China International Furniture Fair will run in Guangzhou from 18 to 21 March 2027 for home furniture and outdoor living, and from 28 to 31 March for office and commercial furniture.
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