Although China is about to usher in the Lunar New Year (February 11-17), companies and factories will resume operations sooner than expected after the Spring Festival. Considering the increasing number of coronavirus cases in the north, some cities and regions will In January, the lockdown was implemented, and millions of migrant workers were promoted to celebrate the New Year on the spot.
“Last year, a lot of China’s demand came from exports, especially for epidemic-related supplies such as masks, laptops and home office screens,” said ICIS senior analyst Rhian O'Connor. “As Europe and other Western countries have adopted blockade measures, Part of the demand may continue this year."
"Shopping patterns have changed, and there are more and more online shopping. This is unlikely to change in the future, but it is conducive to packaging polymers (such as shrink film and stretch stretch film) and more durable products (such as polymers for electronic products). Development." O'Connor added.
"Special applications like PP for syringes should benefit from vaccine demand. However, these still account for a small proportion of overall demand."
Under the dual impact of the upcoming Spring Festival holiday and the recurrence of the epidemic, a slowdown in China's manufacturing activities in January is inevitable-reflected in its official Purchasing Managers Index (PMI) falling from 51.9 in December to 51.3.
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