India’s steel sector maintained an upward trajectory during April–July 2026, with crude steel production rising 2.4 per cent to 56.2 million tonnes and finished steel production increasing 4.7 per cent to 54.7 million tonnes compared with the corresponding period of the previous year. Finished steel consumption grew 7.9 per cent to 56.0 million tonnes, reflecting sustained domestic demand.
In July 2026, crude steel production stood at 14.4 million tonnes, up 1.9 per cent year-on-year, while finished steel production rose 3.9 per cent to 14.0 million tonnes. Finished steel prices remained firm, with TMT prices rising 2.3 per cent month-on-month to Rs 58,003 per tonne and HR Coil prices up 0.9 per cent to Rs 70,448 per tonne.
Alloy steel production rose 26.7 per cent to 3.71 million tonnes during the period, while consumption increased 22.1 per cent to 4.02 million tonnes. Stainless steel production declined 4.2 per cent to 1.38 million tonnes, though consumption grew 25.0 per cent to 1.77 million tonnes.
Trade activity remained strong, with finished steel imports rising 36.6 per cent to 2.77 million tonnes and exports growing 35.0 per cent to 2.29 million tonnes, leaving India a net importer of finished steel in quantity terms. China and Korea were the largest sources of finished steel imports, while Vietnam and the UAE were the leading export destinations.
The sector also saw continued policy and technology initiatives, including notification of the Mines and Minerals (Development and Regulation) Amendment Act, 2026, trial operations of NMDC’s 2.0 MTPA Bacheli iron ore beneficiation plant, and issuance of Green Steel Certificates to 98 producers across 15 states.
