The India Steel Composite Index continued to fall last week, but the pace slowed down. Hence, for the week ended 19 January, 2024, the index closed down a mild -0.4% to 139.9 points against 140.4 points seen in the previous week. It may be noted both longs and flats moved in a very narrow range with longs dipping -0.44% and flats, by -0.27% w-o-w. Trade-level prices of hot-rolled (HR) and cold-rolled (CR) coils predominantly remained range-bound. HRCs dipped by a mere INR 100/t to INR 54,100/t ($651/t) and CRCs remained static at INR 62,000/t ($746/t).
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