📄 2026.6.3Free Sample Preview: South Asia (India) Steel Weekly Report

Report Period: 27 May – 3 June 2026

📌 Core Insight Preview (Week of 3 June 2026)

The Indian steel market is approaching a turning point. The composite index posted its seventh consecutive weekly decline, but the pace collapsed to near zero. Flat steel prices have plateaued for three straight weeks, while the billet index rose for a second week, confirming a semi-finished recovery. Yet beneath the stabilisation, structural shifts are accelerating: India recorded a second consecutive month as a net steel importer, with May imports surging 42% year-on-year, and US scrap exports to India collapsed 71%. Meanwhile, Brent crude fell below $93/bbl on Hormuz deal hopes, and the DGTR’s new probe targeting FTA steel imports threatens to upend the very channels that are gaining market share.

Preview of This Week’s Top Developments:

• Correction Nears Exhaustion as Composite Index Falls Just 0.2%: The seventh weekly decline was the smallest since the correction began in mid-April. Flat steel was unchanged; long products showed tentative recovery signals. The question is no longer how much further prices will fall, but when demand will return.
• Billet Index Rises for Second Consecutive Week: The semi-finished recovery is consolidating, with finished long steel prices in Raipur stabilising. This is the most concrete signal yet that a price floor is forming in the long-products segment.
• India Confirmed as Net Importer for Second Straight Month: May finished steel imports surged 42% YoY, while exports fell 27%. For April–May, imports are up 36.4% to 1.37 million tonnes. FTA-origin material is flooding in, and a new DGTR probe on China, Indonesia, and Vietnam could reshape the competitive landscape.
• Brent Crude Below $93/bbl – Lowest Since Iran Conflict Began: Growing expectations of a US-Iran framework agreement to reopen the Strait of Hormuz are easing energy costs, freight pressures, and rupee volatility. But a deal would also eventually restore Iranian steel exports.
• US Scrap Exports to India Plunge 71%: Domestic HMS and sponge iron have become decisively more cost-effective than imported scrap at current exchange rates. This structural shift is reshaping raw material procurement strategies.
• BIS Stainless Exemption Window Extended – But Deadlines Are Approaching: SS flat products are exempt until 26 October 2026, while SS pipes and tubes face a 30 June deadline. Pre-deadline import activity is expected.

📊 Price Snapshot (Directional Indicators)

Full price tables, import parity calculations, and raw material spreads for all tracked products — including HMS, shredded, SS scrap, LME nickel and copper — are available in the complete report.

💡 Actionable Intelligence Preview (Partial)

For Procurement Managers:
The full report provides precise guidance on whether the billet recovery signals a durable bottom, how to time phased long-product procurement, and why domestic scrap remains the clear choice over imports. It also details the implications of the new DGTR probe on FTA-origin imports, the approaching BIS deadlines, and the critical NMDC June iron ore price decision.

For Export Sales Managers:
We map the Iran supply gap in Southeast Asia, quantify the competitive position of Indian semi-finished exports against Chinese offers, and detail the BIS exemption windows for stainless steel flat products and pipes. The report also assesses the transformative impact a Hormuz diplomatic breakthrough would have on global steel trade flows.

🔍 Why Download the Full Report?

This free sample only scratches the surface. The complete 8-page weekly briefing — including a dedicated Week-on-Week Deep Dive comparing this week’s data against last week — provides the granular data and dual-perspective action advice required to execute with confidence in a volatile market.

Full Report Includes:

• Price & Cost Analysis: Domestic spot prices for all major markets and China FOB benchmarks, with WoW and MoM comparisons, plus LME base metals and global scrap benchmarks.
• Import Parity Calculations: Landed cost estimates vs. domestic prices under the 11.5% safeguard duty, updated for the latest rupee and freight moves, with separate FTA-origin and scrap analysis.
• Market Structure & Anti-Dumping Landscape: Detailed product-by-product breakdown of anti-dumping duties, their causes, alternative non-duty supply sources with specific mill names, and end-use specifications for seamless pipes, flat steel, stainless steel, and nickel alloys.
• Policy & Trade Risk Tracker: DGTR’s new FTA-targeting probe, the 81% AD non-implementation rate crisis, BIS QCO exemption deadlines, and the approaching 6 July CBAM Q2 price publication.
• Supply Chain Radar: Real-time port congestion status, BDI trends, Brent crude dynamics, and scenario analysis for a potential Hormuz diplomatic breakthrough.
• Dual-Perspective Actionable Advice: Separate, specific, and quantified recommendations for Procurement Managers (phased long-product buying, domestic scrap prioritisation, FTA import evaluation) and Export Sales Managers (Southeast Asia semi-finished targeting, SS export window exploitation, alloy surcharge strategies).

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