By Philip Budwick, J.D., M.S.F.
Author’s Note: The information provided in this article is for educational purposes only and is not intended to predict future prices or offer to buy and sell recommendations. All data was compiled from research conducted by the author from various sources and deemed credible at the time and the author makes no guarantee as to the accuracy and completeness of all data presented.
The COVID-19 pandemic disrupted global supply chains and increased costs significantly over the past year. As a result, we are seeing record high freight rates, container shortages, lack of space on container ships, refinery production issues, increases in costs, supply chain interruptions, scarcity of raw materials, dangerously low inventories, and record demand. Even worse is the uncertainty of how much longer this will continue. The purpose of this article is to explain the problems COVID-19 created in the global supply chain and how it affects the market, and what we can expect in 2022.
