The BigMint India Steel Composite Index, after flickering positively for a week, fell back again into negative zone. On June 14,2024, the index closed at 144.6 points (145.6) after a weekly 0.7% decline. The w-o-w indices of the longs and flats also decreased. In a sluggish market, IF rebars experience inventory pressure. Growing HRC imports are still a problem for flats. Declining export offers due to rising SHFE futures.
