Sugar Refineries.--During 1917 the general shortage of tonnage available for the carriage of Java sugars was responsible for an accumulation of unprecedented stocks in godowns in Java, causing a slump in prices which involved severe losses to holders. One result in China--Hongkong's main market--was a shortage of Javas, which was in part responsible for the strong demand for Hongkong Refineds which obtained throughout the greater part of the year. Prices in China ruled low, governed mainly by the influx of heavy shipments of Japanese sugars, and the prevailing high rate of silver exchange which benefited Japan. Offtake of local Refineds would have been considerably greater but for the incidence of political unrest in China during the last two months of the year. India and the Persian Gulf have continued to draw substantial supplies from Hongkong.
Cotton Yarn. During the twelve months under review, trade was smaller in volume than the previous year, due to war conditions, but the monetary turnover could scarcely have suffered owing to the enormous advance in values, and taken all round the importers and dealers had a successful year.
The year opened with the American Cotton in Liverpool at 1063 pence per lb., and closed at 2284, and although this was offset to some extent by a corresponding rise in Exchange from 2/4 to 3/-, scarcity of tonnage caused restricted importations and helped to bring about the high level of prices.
The political troubles in China had a depressing influence on trade, and with prices in some instances almost double pre-war days, the offtake was considerably reduced.
The Japanese and Shanghai Mills continued to extend their operations in the South as well as in other parts of China.
Rope Making. The demand for Manila Cordage was fairly good throughout the year and the total turnover showed a slight improvement on that of the previous twelve months but business in this commodity was greatly hampered by the high cost of raw material and difficulty of obtaining freight room even at enhanced rates.
Cement Making. The demand continued good during the year 1917 although there were difficulties in obtaining freight room and the high exchange adversely affected business with gold standard countries. Owing to the high price of raw materials it was necessary to raise selling prices but in spite of this the turnover compares favourably with 1916.
Tin.--The business in this commodity considerably increased in comparison with 1916, the demand from Europe and America being much greater. Imports from Yunnan in 1917 amounted to about 11,000 tons and from Kwangsi to about 200 tons, as against 3,000 tons and 1,000 tons respectively in 1916.
During the year about 200 tons were exported to Japan, 1,400 tons to Shanghai and other China Coast Ports, and 13,000 tons to Europe, Canada, and the United States of America.
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Sugar Refineries.--During 1917 the general shortage of tonnage available for the carriage of Java sugars was responsible for an accumulation of unprecedented stocks in godowns in Java, causing a slump in prices which involved severe losses to holders. One result in China--Hongkong's main market--was a shortage of Javas, which was in part responsible for the strong demand for Hongkong Refineds which obtained throughout the greater part of the year. Prices in China ruled low, governed mainly by the influx of heavy shipments of Japanese sugars, and the prevailing high rate of silver exchange which benefited Japan. Offtake of local Refineds would have been considerably greater but for the incidence of political unrest in China during the last two months of the year. India and the Persian Gulf have continued to draw substantial supplies from Hongkong.
Cotton Yarn. During the twelve months under review, trade was 'smaller in volume than the previous year, due to war conditions, but the monetary turnover could scarcely have suffered owing to the enormous advance in values, and taken all round the importers and dealers had a successful year.
The year opened with the American Cotton in Liverpool at 1063 pence per b., and closed at 2284, and although this was offset to some extent by a corresponding rise in Exchange from 2/4 to 3-, scarcity of tonnage caused restricted importations and helped to bring about the high level of prices.
The political troubles in China had a depressing influence on trade, and with prices in some instances almost double pre-war days, the offtake was considerably reduced.
The Japanese and Shanghai Mills continued to extend their operations in the South as well as in other parts of China.
Rope Making. The demand for Manila Cordage was fairly good throughout the year and the total turnover showed a slight improve- ment on that of the previous twelve months but business in this commodity was greatly hampered by the high cost of raw material and difficulty of obtaining freight room even at enhanced rates.
Cement Making. The demand continued good during the year 1917 although there were difficulties in obtaining freight room and the high exchange adversely affected business with gold standard countries. Owing to the high price of raw materials it was neces- sary to raise selling prices but in spite of this the turnover compares favourably with 1916.
Tin.--The business in this commodity considerably increased in comparison with 1916, the demand from Europe and America being much greater. Imports from Yuunan in 1917 amounted to about 11,000 tons and from Kwangsi to about 200 tons, as against 3,000 tons and 1,000 tons respectively in 1916.
During the year about 200 tons were exported to Japan, 1,400 tous to Shanghai and other China Coast Ports, and 13,000 tons to Europe, Canada, and the United States of America.
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