India's Steel Sector Performance: April-July 2026
India's steel sector demonstrated sustained growth during the April-July 2026 period, with crude steel production reaching 56.2 million tonnes (Mt), representing a 2.4% increase compared to the corresponding period last year (CPLY). Monthly production for July 2026 stood at 14.4 Mt of crude steel, up 1.9% year-on-year (YoY). Hot metal production showed stronger growth at 31.9 Mt for Apr-Jul (up 2.7% YoY), while finished steel production reached 54.7 Mt, increasing by 4.7% YoY.
Production was dominated by the top seven producers (SAIL, RINL, NSL, TSL Group, AM/NS, JSL(JSPL), and JSW Group) which collectively accounted for 31.3 Mt of crude steel production from their total annual capacity of 117.4 Mt. The remaining producers contributed 24.9 Mt from their 105.3 Mt capacity. The public sector share stood at 13.9% of total crude steel production.
Steel prices showed mixed trends in August 2026. TMT (10 mm) prices increased to ₹58,003/tonne (up 2.3% month-on-month), while HR Coil (2 mm) reached ₹70,448/tonne (up 0.9% MoM). CR Coil (0.63 mm) prices slightly declined to ₹76,463/tonne (-0.2% MoM), and GP Sheet (0.63 mm) prices rose to ₹86,668/tonne (up 0.3% MoM). All prices showed significant YoY increases ranging from 5.8% to 17.7%.
Alloy steel production surged 26.7% to 3,710.8 thousand tonnes ('000t) for Apr-Jul 2026, with exports skyrocketing 150.7% to 122.2 '000t. Stainless steel production, however, declined 4.2% to 1,375.6 '000t, while imports more than doubled (111.4% increase) to 497.0 '000t.
Domestic steel consumption showed robust growth, with finished steel consumption reaching 56.0 Mt for Apr-Jul 2026, up 7.9% YoY. The trade dynamics shifted significantly as India became a net importer of finished steel during this period. Imports surged 36.6% to 2,766.2 '000t valued at ₹28,330.8 crore (up 43.1%), while exports grew 35.0% to 2,292.3 '000t valued at ₹18,105.4 crore (up 29.4%).
China was the largest source of imports (855.8 '000t, 30.9% share), followed by Korea (835.4 '000t, 30.2%) and Japan (413.3 '000t, 14.9%). Vietnam was the top export destination (354.0 '000t, 15.4%), followed by UAE (339.6 '000t, 14.8%) and Belgium (183.0 '000t, 8.0%). HR Coil/Strip was the dominant import category (1,015.2 '000t, 36.7%) and also the largest export category (841.5 '000t, 36.7%).
Raw material prices declined in August 2026, with NMDC Iron Ore Baila Lump (65.5%) falling 3.7% to ₹5,250/tonne and NMDC Iron Ore Baila Fines (64%) dropping 4.3% to ₹4,500/tonne. MOIL Manganese Ore Lump declined 5.0% to ₹17,603/tonne, while scrap HMS II increased 3.6% to ₹39,970/tonne.
Key indices showed mixed performance: the Nifty Metal Index averaged 12,556.4 in July 2026 (down 3.2% MoM but up 32.6% YoY), the PMI Manufacturing Index stood at 53.5 (down 1.3% MoM), and the Baltic Dry Index averaged 2,769.9 (down 0.4% MoM but up 52.2% YoY).
The Ministry of Steel launched a monthly webinar series on digitalization in the steel and mining sector, with the first webinar held on 21 August 2026. The Mines and Minerals (Development and Regulation) Amendment Act, 2026 was notified on 17 August 2026 to strengthen raw material security for the steel sector. NMDC Bacheli's 2.0 MTPA Iron Ore Beneficiation Plant commenced trial operations, and MECON and NMDC Steel Limited signed an MoA for consultancy services for upcoming projects.
Under the Green Steel Initiative, 98 steel producers across 15 states received Green Steel Certificates, with most products achieving the highest 5-star rating, covering TMT bars, HR/CR coils, plates, wire rods, and pipes.