India’s steel sector recorded strong growth in Q1 FY2026, with crude steel production rising to 42.1 million tonnes (Mt) during April–June 2026, up from 40.8 Mt a year earlier, while finished steel production increased to 41.0 Mt from 38.7 Mt. In June 2026, crude steel output stood at 14.1 Mt (+3.9% YoY), hot metal production was 7.9 Mt (-0.3% YoY), and finished steel production reached 13.8 Mt (+6.0% YoY). India’s total annual crude steel capacity remained 221.9 Mt.
Steel demand remained strong, with finished steel consumption reaching 14.2 Mt in June 2026, compared with 13.2 Mt in June 2025, a 7.2% increase. During April–June 2026, finished steel consumption rose to 41.6 Mt from 38.4 Mt in the same period last year, reflecting 8.3% growth.
Steel prices eased on a monthly basis in June 2026 but stayed higher than a year ago. TMT (10 mm) prices fell 4.7% MoM to ₹60,068 per tonne, HR Coil (2 mm) declined 0.5% to ₹70,108, CR Coil (0.63 mm) slipped 1.1% to ₹77,053, and GP Sheet (0.63 mm) dropped 2.8% to ₹86,505. On a yearly basis, prices were higher by 4.4%, 11.2%, 11.4%, and 15.8%, respectively.
India remained a net importer of finished steel during April–June 2026. Finished steel imports reached 2,063.9 thousand tonnes, up 49.2%, while exports increased to 1,592.8 thousand tonnes, up 31.4%. In value terms, imports rose to ₹20,214.5 crore (+44.2%) and exports climbed to ₹12,475.2 crore (+27.6%).
Raw material prices showed mixed trends in June 2026. NMDC Baila Lump iron ore increased to ₹5,700 per tonne (+3.6% MoM) and Baila Fines rose to ₹4,850 (+3.2%). MOIL manganese ore declined to ₹19,505 (-5.0%), while HMS II scrap fell to ₹40,665 (-4.4%). The Nifty Metal Index averaged 12,971.9 in June (-1.9% MoM, +39.3% YoY), the PMI Manufacturing Index stood at 54.2, and the Baltic Dry Index averaged 2,779.9.
During June 2026, the Ministry of Steel highlighted digital transformation through Chintan Shivir, the Ministry granted Miniratna Category-I status to MECON Limited, and DGTR launched an anti-dumping investigation into hot-rolled flat steel imports from China, Japan, and Russia. NMDC produced 5.15 million tonnes of iron ore in June, up 44% YoY, while sales increased 11% to 3.98 million tonnes. The country’s steelmaking capacity remained 221.9 Mtpa, JSW Group began construction of its 2 MTPA integrated steel plant in Kadapa, Andhra Pradesh, and SAIL Rourkela Steel Plant launched a CO₂ Dashboard to support decarbonisation efforts.
