Demand among buyers remained poor this week, with many sellers offering material to the market in vain.
“Buying activity is almost non-existent, [with] buyers just waiting and watching,” one seller said.
Large gaps remained between the expectations of buyers and sellers of HMS 1&2 (80:20), as last week
, but another contributing factor to low market activity over the past seven days was uncertainty over a significant Indian tax reform.
The Goods & Services Tax (GST), which is expected to come into force by the first day of July, is designed to bring together a host of...