Imports by India declined 47% during Jan.-June: Metals Focus
Benchmark futures in India have rallied more than 60%
Silver consumption in India is set to halve in 2020 as buyers, mainly from rural areas, skip purchases amid surging prices and a weak economy.
Imports by the world’s biggest consumer may tumble by as much as 50% this year from about 6,000 tons in 2019, according to Chirag Sheth, a consultant at London-based Metals Focus Ltd. Imports were down by nearly half in the first six months of the year to 1,735 tons, he said.
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