India steel composite index drops 0.5% w-o-w as market slowdown continues in Jun’25

Indian steel prices continued their downward trajectory in June 2025 after a lacklustre May amid global and domestic headwinds affecting the sector. BigMints India steel composite index a barometer of the domestic steel market fell by 0.5% w-o-w on 6 June, with long steel prices dropping more steeply than flats. While the flats composite index dropped 0.2% w-o-w, the longs index recorded a 0.8% decline. In May, the flagship index had slipped by 2.7%, which indicates that the 12% provisional safeguard duty on imports of flat steel, which had come into force in mid-April, failed to have a sustained positive impact on the market amid global uncertainty and deterioration in steel prices.