07 May 2012 08:39 [Source: ICIS news]
The order decrease was largely caused by lower demand from major economies, such as the EU and the
Orders from EU and US decreased by 5.6% and 8.1%, respectively, because of the debt crisis and poor employment situation, Liu added.
However, demands from emerging markets increased.
Approximately 86.3% of the orders made were for deliveries within six months, and the remaining 13.7% were for deliveries to be made more than six months later, said Liu.
According to Liu, this indicated that buyers were unwilling to book long-term orders to avoid risks caused by market changes, while exporters were reluctant to accept long-term contracts as they worried about fluctuations in raw materials prices and exchange rates.
The fair takes place every April and October and the latest session was held from 15 April to 5 May.
Liu added that the number of visitors at the spring session, hit a new high of 210,000, 0.23% more than the autumn session in 2011.
($1 = €0.76)
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