The BigMint India Steel Composite Index has been traversing in positive territory for three weeks in a row. For the week ended 3 May, 2024, the index was up 1.5% to 145.1 points (142.9). A similar three-week positive run was last seen in late September-early October 2023 – but then, the w-o-w increases had been minuscule. The performance over the last three weeks, on the other hand, have been comparatively better. From a flat level on 12 April, the index rose 1.6%, 0.7% and 1.5% in successive weeks till 3 May. The longs index upped a significant 2.4% but, more importantly, flats too are seeing a turnaround.
