Average airfreight rates on services from Shanghai to the U.S. last week increased by 29.7% wee-on-week to  $4.71 per kg, according to recent TAC Index data.  On services from Shanghai to Europe there was a 17.7% week-on-week increase to $3.19 per kg.

From Hong Kong to the U.S. there was a 10.4% week-on-week increase to $3.70 per kg and from Hong Kong to Europe prices were up 10.8% to $2.86 per kg.

Factories are finally back to work.  However the boost in production is being met by a shortage of capacity as carriers have cut both cargo and passenger flights in response to previous low demand.

Flight cancellations are believed to have removed an average of 5,100 tons of capacity from China per day.