The IndianSteel Demands in June will be Affected by the Implementing New Tax Law

The India hot rolled steel market now is stable.The quotation from steel mills is keep same in May, Sales have been slow. The EXW price including domestic transport charge of hot rolled coil is 35500-36500 rupee /ton (551-560usd /ton) ,if including the tax about 41900-43100 rupee /ton. The steel mills will pay high attention to the new "goods and services tax (GST), which will bring what kind of impact to the market.
Affected by the new tax reform, Sales have been slow in June , it have a big pressure of delivery, consumers need to digest the current inventory before purchasing according to the new tax preference. The demand will be improved in July , buyer may have begun to inventory at that time.
The Indian government will implement new "goods and services tax (GST) from 1st ,July. The new tax reform will only for consumption link tax (VAT), Only goods consumed, just can collect taxes, uniform 18% rate in India, the previous 5%　VAT and 12.5 consumption tax will no longer apply.