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Guangdong Brokers Cancel Factory Supply Deals as Spot Prices Rise
Power market brokers in China's Guangdong province are canceling long-term supply deals with factories. The move comes as the Iran war drives a surge in spot prices, eroding brokers' margins. The cancellations highlight pressures in the industrial hub's energy sector.
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Power market brokers in Guangdong are moving to cancel long-term supply deals with factories as spot prices surge due to the Iran war, @business reported. The cancellations are taking place in Guangdong, described as the Chinese industrial hub, amid these rising spot prices that are eroding brokers' margins.
The Iran war is driving the surge in spot prices, prompting brokers to shift away from existing long-term agreements with factories in the region.
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