India steel index stays in positive zone for 3 weeks amid tight supply

Maintenance schedules fuel supply shortage in longs, flats. Raw materials' cost push seen amid firmer finished prices. Further production cuts likely in flat steels in May'24.

Morning Brief: 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