India’s finished steel production rose 4.7 per cent year-on-year to 54.7 million tonnes (MT) during April-July 2026, while consumption grew at a faster pace of 7.9 per cent to 56 MT, signalling sustained strength in domestic steel demand, according to provisional data released by the Ministry of Steel.
Crude steel production increased 2.4 per cent to 56.2 MT during the four-month period, compared with 54.9 MT in the corresponding period last year. Hot metal production also rose 2.7 per cent to 31.9 MT from 31.1 MT.
In July alone, finished steel production stood at 14 MT, registering a 3.9 per cent increase over 13.5 MT in July 2025. Finished steel consumption rose 6.8 per cent to 14.4 MT during the month.
The stronger growth in consumption was accompanied by a significant increase in trade. Finished steel imports rose 36.6 per cent to 2.77 MT during April-July, while exports increased 35 per cent to 2.29 MT. India therefore remained a net importer of finished steel in volume terms.
In value terms, finished steel imports increased 43.1 per cent to Rs 28,330.8 crore, while exports rose 29.4 per cent to Rs 18,105.4 crore.
China remained the largest source of finished steel imports, accounting for 30.9 per cent of total imports, followed by South Korea at 30.2 per cent and Japan at 14.9 per cent. On the export side, Vietnam was the biggest destination with a 15.4 per cent share, followed by the UAE at 14.8 per cent, Belgium at 8 per cent, Italy at 7 per cent and Nepal at 6.6 per cent.
Hot-rolled coil and strip remained the largest category in both imports and exports, accounting for 36.7 per cent of each. Cold-rolled coils and sheets made up 17.7 per cent of imports, while pipes constituted 15.6 per cent of exports.
Alloy steel demand strengthens
The alloy steel segment recorded particularly strong growth during the period. Production increased 26.7 per cent to 3.71 MT, compared with 2.93 MT a year earlier, while consumption rose 22.1 per cent to 4.02 MT.
Alloy steel exports surged 150.7 per cent to 122,200 tonnes during April-July, compared with 48,700 tonnes in the corresponding period last year. Imports, however, increased only 9.4 per cent to 419,300 tonnes.
Stainless steel showed a contrasting trend. Production declined 4.2 per cent to 1.38 MT, but consumption increased 25 per cent to 1.77 MT. Imports of stainless steel more than doubled, rising 111.4 per cent to 497,000 tonnes, while exports declined 30.7 per cent to 166,700 tonnes.
Steel prices remain firm
Domestic steel prices showed mixed movement in August. The average price of 10-mm TMT bars increased 2.3 per cent month-on-month to Rs 58,003 per tonne, while hot-rolled coil prices rose 0.9 per cent to Rs 70,448 per tonne.
Cold-rolled coil prices declined marginally by 0.2 per cent to Rs 76,463 per tonne, while galvanised plain sheet prices increased 0.3 per cent to Rs 86,668 per tonne.
The prices are inclusive of GST and represent average prices across Kolkata, Delhi, Mumbai and Chennai.
Policy measures aimed at strengthening raw material security
The Ministry of Steel said the recently notified Mines and Minerals (Development and Regulation) Amendment Act, 2026 is expected to strengthen raw material security for the steel industry by improving the investment climate for mining, supporting mine development and enhancing domestic availability of key minerals, including iron ore.
The amendment was notified on August 17.
The ministry has also launched a monthly webinar series focused on digitalisation in the steel and mining sector. The first webinar was held on August 21, bringing together industry leaders, central public sector enterprises, startups and technology providers to discuss digital solutions and their implementation.
The initiative is aimed at accelerating the adoption of digital technologies and promoting greater collaboration across the steel and mining ecosystem.
Meanwhile, NMDC’s 2.0 MTPA iron ore beneficiation plant at Bacheli has commenced trial operations. The plant completed its first hot trial using iron ore fines for slurry production, marking a step towards strengthening integrated beneficiation capabilities.
MECON and NMDC Steel Limited have also signed a Memorandum of Agreement for consultancy services for upcoming projects, with the partnership expected to support project planning, capacity expansion and technological advancement.
Green steel adoption expands
India’s green steel push is also gaining ground, with 98 steel producers across 15 states receiving Green Steel Certificates under the Ministry of Steel’s Green Steel Initiative.
The certification covers products such as TMT bars, hot- and cold-rolled coils, plates, wire rods and pipes. Most of the certified products have received the highest five-star rating, indicating growing adoption of low-emission steelmaking practices among secondary and mid-sized steel producers.
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