As Covid cases continue to fall in Shanghai there are signs of the manufacturing industry returning to normal production.
More than 2000 manufacturers are now on a whitelist of those permitted to come back online, though they still have to operate under restrictive "closed-loop" conditions.
It is estimated that the lockdown in Shanghai has cost global trade $28bn so far. Throughput at the port of Shanghai is still down 22% compared with pre-lockdown levels, though volumes have at least stabilised in a way which suggests recovery. Average dwell times for exports are currently 6.4 days, 31% higher than before the lockdown but 10% lower than the peak on 22nd April.
Experts continue to warn that once manufacturing ramps back up there will be a significant spike in exports as companies try to fulfil backlogs of orders, with one industry insider saying: “We expect the last five weeks of COVID-19-related shutdowns at the largest shipping port in the world is about to begin to impact freight with a potential big splash whenever that faucet gets turned back on”.