- Buyers become bearish- China's demand is declining



Asian
acrylonitrile-butadiene-styrene fell $20/mt-$25/mt week on week to $1,830/mt-$1,840/mt CFR China and $1,880/mt-$1,890/mt CFR Southeast Asia May 11 amid slow
trading due to lackluster demand in China. Some producers are
concerned about COVID-19 lockdowns occurring in China. This is because buyers
have weakened interest in China's home appliances sector. The week's selling indications fell to $1,850/mt-$1,860/mt.
Some suppliers chose to wait and watch. Producers
said that there is no reason to make any offers. They also stated that buyers
have been reluctant to stock up on imported cargoes due to the weakening
dollar/yuan exchange rates. The buying indication heard was only $1,700/mt-$1,720/mt
CFR China. The market sentiment was
affected by COVID-19 due to uncertainty about logistics and the outlook for
demand. Sources said that while some areas...