LONDON (ICIS)--Click here to see the latest blog post on Asian Chemical Connections. China's first-quarter growth looks set to decline over Q4 2020 because of the country's new pandemic outbreak and global container freight and microchip shortages. The container freight shortage is unlikely to be resolved until Q2 with the microchip shortage forecast to last six months. Both of these logistics challenges represent a moderate threat to China's export-led economic recovery. The blog therefore revised down its estimates for China's polyethylene demand in 2021. We also detail the final apparent demand numbers of 2020, giving us a complete picture of what was a remarkably strong year.
Editor’s note: This blog post is an opinion piece. The views expressed are those of the author, and do not necessarily represent those of ICIS.