India Steel Sector Performance April-July 2026
India's steel sector demonstrated positive growth trends during the April-July 2026 period, with crude steel production reaching 56.3 million tonnes (MT), representing a 2.6% increase compared to the corresponding period last year (CPLY). Monthly production in July 2026 stood at 14.3 MT of crude steel, showing a 1.2% year-on-year growth. Finished steel production reached 54.3 MT for the four-month period, marking a 4.0% increase over CPLY, while hot metal production grew 1.5% to 31.6 MT.
Production Capacity and Distribution
The total annual crude steel capacity in India stood at 222.0 MT, with the top 7 producers (including SAIL, RINL, NSL, TSL Group, AM/NS, JSL(JSPL), and JSW Group) contributing 31.2 MT of production from their 117.4 MT capacity. The remaining producers accounted for 25.1 MT from 104.6 MT capacity. The public sector share comprised 13.9% of total crude steel production at 15.9 MT, 13.5 MT of finished steel production, and 30.5 MT of hot metal production.
Steel Price Trends
Steel prices showed mixed trends across product categories. TMT (10 mm) prices declined to ₹56,698/tonne in July 2026, down 5.6% month-on-month but up 3.7% year-on-year. HR Coil (2 mm) prices were relatively stable at ₹69,828/tonne, down 0.4% MoM but up 13.3% YoY. CR Coil (0.63 mm) prices stood at ₹76,583/tonne, decreasing 0.6% MoM while increasing 14.7% YoY. GP Sheet (0.63 mm) prices were ₹86,415/tonne, down 0.1% MoM but showing significant 18.9% YoY growth. All prices are inclusive of GST and based on average prices from four metro cities—Kolkata, Delhi, Mumbai, and Chennai.
Demand and Consumption
Finished steel consumption showed robust growth, reaching 55.9 MT during April-July 2026, representing a 7.8% increase over CPLY. Monthly consumption in July 2026 was particularly strong at 14.4 MT, growing 6.5% year-on-year, indicating sustained domestic demand for steel products.
Trade Dynamics
India became a net importer of finished steel during the period, with imports totaling 2.77 million tonnes (valued at ₹28,330.8 crore), representing a 36.6% volume increase and 43.1% value increase over CPLY. Exports also grew significantly, reaching 2.29 million tonnes (valued at ₹18,105.4 crore), showing 35.0% volume growth and 29.4% value growth compared to the same period last year.
Raw Material Prices
Domestic raw material prices declined month-on-month in July 2026. NMDC Iron Ore Baila Lump (65.5%, 10-40 mm) decreased 4.4% to ₹5,450/tonne, while NMDC Iron Ore Baila Fines (64%, -10 mm) fell 3.1% to ₹4,700/tonne. MOIL Manganese Ore Lump (Mn 37%, Fe 7.5%) declined 5.0% to ₹18,529/tonne, and scrap—HMS II prices dropped 5.1% to ₹38,580/tonne.
Key Indices Performance
The Nifty Metal Index averaged 12,556.4 in July 2026, declining 3.2% month-on-month but showing strong 32.6% year-on-year growth. The PMI Manufacturing Index stood at 53.5 in July, down 1.3% MoM and 9.5% YoY, while the Baltic Dry Index averaged 2,769.9, decreasing 0.4% MoM but increasing 52.2% YoY.
Corporate Developments
SAIL reported exceptional financial performance in Q1 FY2026-27 with net profit surging 138% year-on-year to ₹1,636 crore and revenue from operations reaching ₹26,246 crore. The company secured a Licensing Agreement for Transfer of Technology from Defence Metallurgical Research Laboratory (DMRL), DRDO to manufacture specialized DMR-249A, DMR-249B and DMR-249BK grade steel for naval ships and submarines, enhancing India's indigenous defence manufacturing capabilities.
NMDC achieved record July production of 4.06 MT, registering 31% year-on-year growth, with cumulative FY27 production reaching 19.16 MT and sales of 15.15 MT. The company engaged in international discussions with Argentine officials to explore investment opportunities in copper and other strategic minerals.
Sustainability Initiatives
SAIL inaugurated its first 0.18 MTPA Micro Pellet Plant at Rourkela Steel Plant, converting steelmaking waste into value-added micro pellets to reduce landfill waste and improve raw material self-sufficiency. The company also launched a Mass Environmental Awareness and Tree Plantation Festival, planting 500 saplings at Ispat Amrit Van in Rourkela with participation from over 300 students and employees, with plans to plant 4,000 saplings throughout the year across 1.07 acres featuring native and fruit-bearing species.