The New Year return to form that many had been
banking on was not exactly the reality on the shores of West Coast India
As such, it has become increasingly difficult to
solicit any form of offers from end buyers who remain adamant that a settled
currency is central to any aggressive offering. The numbers have therefore
understandably remained low and cash buyers have chosen to focus their energies
on both Pakistan and China, along with the soon to be back again, Bangladeshi
market.
As a result, there were no market sales to report
for the week and the general feeling is that it may stay that way for some time
until a greater degree of confidence and stability can be restored locally.
Source: Steel Guru (Sourced from GMS Weekly). 10 January 2012
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