India’s crude steel production increased 2.9% to 85.1 million tonnes during April–September 2026, while strong domestic demand pushed finished steel consumption to 85 million tonnes.
Highlights
- India’s finished steel consumption rose 7.6% to 85 million tonnes in H1 FY27.
- Crude steel production increased 2.9% to 85.1 million tonnes.
- Finished steel production grew 4.1% to 82 million tonnes.
- Steel imports jumped 23.8% to 4.14 million tonnes.
India’s Steel Demand Grows 7.6% in First Half of FY27
New Delhi, October 24, 2026: India’s steel sector recorded steady growth during the first half of the financial year 2026–27, supported by strong domestic consumption and higher production. Finished steel consumption increased 7.6% year-on-year to 85 million tonnes during April–September 2026, compared with 79 million tonnes in the corresponding period last year.
According to provisional data released by the Ministry of Steel on October 23, crude steel production rose 2.9% to 85.1 million tonnes from 82.7 million tonnes a year earlier. Finished steel production increased 4.1% to 82 million tonnes, while hot metal production grew 2.7% to 48.4 million tonnes.
Steel Imports Rise Nearly 24%
India’s finished steel imports increased 23.8% to 4.14 million tonnes during the first six months of FY27, compared with 3.34 million tonnes in the year-ago period. The value of imports jumped 40% to ₹43,690 crore.
Meanwhile, finished steel exports rose 26.2% to 3.55 million tonnes, with export earnings increasing 28.9% to ₹28,264 crore.
Despite the growth in exports, India remained a net importer of finished steel by volume during the period.
China emerged as India’s largest steel import source, accounting for 31.8% of total imports, followed by South Korea at 31.1% and Japan at 13.5%.
Steel Prices Record Sharp Increase
Domestic steel prices also witnessed significant increases in October 2026.
The average price of 10 mm TMT bars reached ₹66,645 per tonne, reflecting a 26% year-on-year increase. Hot-rolled coil prices climbed 31.6% to ₹77,620 per tonne.
Cold-rolled coil prices increased 33.3% to ₹87,010 per tonne, while galvanised plain sheet prices rose 33.6% to ₹95,365 per tonne.
Government Targets 604 MT Steel Capacity by 2047
The Ministry of Steel has prepared a draft National Steel Policy – Vision 2047, targeting crude steel production capacity of 604 million tonnes and per capita steel consumption of 302 kg by 2047.
The proposed policy also aims to increase steel exports to 45 million tonnes while reducing carbon emissions intensity.
Under the government’s Green Steel Initiative, 104 steel producers have received Green Steel Certificates through October 2026.
Meanwhile, MOIL achieved its highest-ever first-half manganese ore production of 0.96 million tonnes, strengthening domestic raw material availability.
The latest figures highlight India’s growing steel consumption, although rising imports and higher domestic prices remain important developments for the industry.
