India steel index rebounds to 3-mth high as supply crunch hits market

Supply shortage lifts steel prices of Tier-1 mills. Increased trades, higher input costs boost IF rebar prices. AD probe into Vietnamese HRC deferred; coil imports remain high.

Morning Brief: BigMint's Steel Composite Index bounced back to over a three-month high amid reports of supply constraints, which follows rumours of maintenance shutdowns by major steelmakers. The index moved up by 0.9% w-o-w to 130.7 points on 28 February 2025, finally lifting itself from the 128-130 levels it had