The India Steel Composite Index maintained its positive performance for the past six weeks and closed the week ending on September 8, 2023, at 148.3 points, marking a 1% increase compared to the previous closing of 146.90. Notably, the index had closed near a six-month high last week.
In addition to this favorable development, both the flat and long steel indices also showed weekly gains.
The India Long Steel Composite Index (ILSI) rose from its previous value of 144.40 to 145.80, displaying a performance close to levels last observed on May 26 of this year.
On the other hand, the India Flat Steel Composite Index experienced a slightly higher increase compared to long steel, rising by over 1% from 149.50 to 151 points.