India steel index drops w-o-w on rising inventory, weak construction activity

Rebar prices drop as state elections hit construction activity. Scheduled maintenances may reduce HRC supply, support prices. HRC domestic-import price differential stays above INR 6,000/t

India steel composite index, a barometer of the domestic steel market, edged down by 0.7% w-o-w on 8 May 2026, as long steel prices in the domestic market came under pressure due to a slowdown in construction amid elections in many states and the piling up of inventory. In comparison,