New COVID lockdowns in China freshen supply chain pressures

Most warehouses in Shanghai have been closed, and more than 90% of trucking capacity in the city has been out of service.

Shippers rerouting air and ocean cargo have driven up freight prices and caused days of delays.

What they’re saying: “[T]he geographical distribution of the latest wave remains extremely widespread, and the outbreak continues across almost every part of China of significant economic importance,” Nomura analysts write.