India Steel Production and Consumption Performance April-October 2026
India's finished steel consumption reached 99.3 million tonnes during the April-October 2026 period, representing a 7.5% increase compared to the corresponding period last year (CPLY) of 92.4 million tonnes. Monthly consumption in October 2026 stood at 14.3 million tonnes, showing 6.6% year-on-year growth from 13.4 million tonnes in October 2025.
Production metrics show crude steel output reached 99.1 million tonnes during April-October 2026, up 2.6% from 96.6 million tonnes CPLY, with October 2026 production at 14.1 million tonnes (0.7% YoY increase). Finished steel production totaled 95.5 million tonnes for the seven-month period, growing 3.9% from 91.9 million tonnes CPLY, while October 2026 finished steel production was 13.4 million tonnes (2.8% YoY increase). Hot metal production reached 56.3 million tonnes April-October 2026, up 1.9% from 55.3 million tonnes CPLY, though October 2026 production declined 2.9% YoY to 7.9 million tonnes.
Producer-wise data shows seven large producers (SAIL, RINL, NSL, TSL Group, AM/NS, JSL/JSPL, JSW Group) with total crude steel capacity of 117.4 million tonnes produced 55.6 million tonnes of crude steel, 52.2 million tonnes of hot metal, and 51.4 million tonnes of finished steel during April-October 2026. The remaining producers with 105.6 million tonnes capacity produced 43.5 million tonnes of crude steel, 4.1 million tonnes of hot metal, and 44.1 million tonnes of finished steel. Public sector share stood at 13.9% of capacity but contributed 15.5% of crude steel production, 29.4% of hot metal production, and 13.6% of finished steel production.
Steel prices showed significant increases across all categories in October 2026. TMT (10 mm) prices reached ₹66,645/tonne, up 2.1% month-on-month and 26.0% year-on-year. HR Coil (2 mm) prices were ₹77,620/tonne (2.0% MoM, 31.6% YoY), CR Coil (0.63 mm) at ₹87,010/tonne (2.4% MoM, 33.3% YoY), and GP Sheet (0.63 mm) at ₹95,365/tonne (1.3% MoM, 33.6% YoY). These prices are inclusive of GST and based on average prices from the second fortnight across Kolkata, Delhi, Mumbai, and Chennai.
Trade dynamics indicate India was a net importer of finished steel during April-October 2026. Imports surged to 4.90 million tonnes, a 28.9% increase from 3.80 million tonnes CPLY, with October 2026 imports at 0.76 million tonnes (65.8% YoY increase). Import value reached ₹52,493.7 crore, up 49.0% from ₹35,232.8 crore CPLY. Exports grew more modestly to 3.98 million tonnes, a 15.5% increase from 3.45 million tonnes CPLY, though October 2026 exports declined 32.0% YoY to 0.44 million tonnes. Export value was ₹32,177.2 crore, up 21.0% from ₹26,596.1 crore CPLY.
Raw material prices showed mixed trends. NMDC iron ore prices remained stable with Baila Lump (65.5%, 10-40 mm) at ₹5,400/tonne and Baila Fines (64%, 0-10 mm) at ₹4,500/tonne in October 2026. MOIL manganese ore lump (Mn 37%, Fe 7.5%) increased 5.0% to ₹18,483/tonne, while scrap—HMS II declined 3.5% to ₹42,258/tonne.
Key indices showed varied performance. The Nifty Metal Index averaged 12,003.9 in October 2026, down 8.0% month-on-month but up 16.3% year-on-year. The Manufacturing PMI stood at 54.7 in October 2026, down 0.7% from September but indicating expansion. The Baltic Dry Index averaged 2,777.3, down 18.5% month-on-month but up 39.4% year-on-year.
Policy initiatives included the Ministry of Steel granting QCO compliance exemption for 162 grades of semi-finished stainless steel products under IS 14650, valid until 31 March 2027, to address MSME concerns and facilitate availability of intermediate materials.
Company performance updates noted SAIL's strong H1 FY27 results with 5% sales volume growth to 5.16 million tonnes in Q2 FY27 and PAT surge of approximately 315% to ₹1,774 crore, along with approval of ₹1,714-crore expansion plan for its Alloy Steels Plant. NMDC achieved iron ore production of 5.04 million tonnes in October 2026 (18% YoY increase) and cumulative April-October production of 32.32 million tonnes (22% YoY growth). MOIL reported manganese ore sales volume growth of 9.67% YoY to 0.78 million tonnes and PAT increase of 22.5% to ₹149.39 crore in H1 FY27.
International cooperation efforts included Ministry of Steel delegation visits to Sydney for IMARC 2026 conference and Australia-India Business Meet 2026, discussing cooperation in mining, steel, critical minerals, and raw material security. The delegation also met with New Zealand officials to strengthen investment and trade cooperation. NMDC opened a Sydney office to facilitate engagement with Australian government agencies and industry partners.
Green steel initiatives saw 108 distinct steel producers issued Green Steel Certificates as of October 2026, covering products including TMT bars, HR/CR coils, plates, wire rods, pipes, with majority receiving 5-star ratings for lower-emission steelmaking practices.