India: Buyers Looking for Bargains

Trade cautious amidtight liquidity and diminishing credit. Some overseas buyers in Mumbailooking for bargains from companies that need to boost cash flow. 0.30 to 0.49ct. selling well in parcels after suppliers stopped certifying SI goods.Manufacturing down by estimated 25% to 30% compared to a year ago. Improvementin cheap melee suggests some resistance to CVD.

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