India steel index stumbles again. Approaching winter keeps demand cold

Slack procurement, dampened expectations weigh on longs. Liquidity pressures, muted demand keep flats under pressure. Air pollution restrictions may keep construction activity low.

Morning Brief: Expectations of a post-Diwali recovery in steel prices continued to elude the market this week, with the BigMint India Composite Steel Index registering a 0.8% drop to 132.9 points on 15 November as against 133.9 seen on 8 November. After tumbling for three weeks in a row, the index