India steel index drops on accumulating inventory pressure, seasonal slowdown

BF-origin rebar prices decline by INR 1,600/t w-o-w. HRC market stable on firm fundamentals, policy support. Mills likely to slash prices in early July on rising inventory pressure

India steel composite index fell by 0.6% w-o-w, as assessed on 3 July 2026, as domestic steel prices continued to weaken due to seasonal slowdown in construction and fast-developing inventories with mills and distributors. However, as in previous weeks, the pace of decline remained uneven across product categories -