India’s steel sector remained strong in May 2026, with crude steel production rising 2.9% YoY to 14.21 million tonnes. Finished steel production increased 7.7% YoY to 13.94 million tonnes, while consumption jumped 9.0% YoY to 14.33 million tonnes.
During April-May 2026, crude steel production reached 28.04 million tonnes, up 2.7% YoY. Finished steel production rose 6.4% to 27.36 million tonnes, while consumption climbed 8.7% to 27.36 million tonnes, supported by strong demand from infrastructure, construction and manufacturing sectors.
India imported 0.69 million tonnes of steel in May, up 62.5% YoY, while exports increased 29.9% YoY to 0.51 million tonnes. In April-May 2026, imports rose 45.0% to 1.37 million tonnes and exports grew 27.4% to 0.98 million tonnes, making India a net steel importer.
India’s crude steelmaking capacity reached around 220 MTPA in FY26. SAIL approved expansion of its Bhilai plant capacity from 6.8 MTPA to 10.2 MTPA, while JSW Steel started construction of its 13.2 MTPA integrated steel plant at Paradip, Odisha.
Under the Green Steel Initiative, 94 producers across 15 states received green steel certificates by May 31, 2026. Most certified products achieved the highest 5-star rating, covering products such as TMT bars, coils, plates, wire rods and pipes.
Domestic steel prices softened in May, with TMT/Rebar prices falling about 1.3% MoM, though still up 4.5% YoY. Meanwhile, raw material costs increased as NMDC raised iron ore prices by Rs 200 per tonne and international coking coal prices climbed 2.8% to $239 per tonne, adding pressure on steelmakers’ margins.
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