Tag: India long steel composite index down 0.3% w-o-w

The slide in the BF segment was partly a knee-jerk reaction to the dullness prevailing in the induction furnace (IF) rebar space which commands 65-70% of the market. Prices here remained flat w-o-w at INR 48,100/t ($579/t). Here too, lacklustre buying amid rising inventories did not allow mills any space to raise offers. With the…