India’s steel sector maintained growth momentum during April-August 2026, with finished steel production rising 3.8% year-on-year to 68.1 million tonnes (Mt), while finished steel consumption increased 7% to 70.3 Mt, according to provisional Joint Plant Committee (JPC) data released by the Ministry of Steel on September 3.
Production, demand and trade
Crude steel production reached 70.3 Mt in April-August 2026, compared with 69.0 Mt a year earlier, while hot metal output rose to 40.0 Mt from 39.2 Mt. In August alone, crude steel production was 14.1 Mt, hot metal 8.0 Mt and finished steel 13.5 Mt. Finished steel consumption stood at 14.3 Mt in August, up 3.9% from 13.8 Mt.
The top seven producers accounted for 39.2 Mt of crude steel, 37.2 Mt of hot metal and 36.5 Mt of finished steel during April-August. Their annual crude steel capacity was 117.4 Mt. The remaining producers had 105.4 Mt capacity and produced 31.1 Mt of crude steel, 2.8 Mt of hot metal and 31.7 Mt of finished steel. Total capacity stood at 222.8 Mt. The top seven are SAIL, RINL, NSL, TSL Group, AM/NS, JSL (JSPL) and JSW Group. Public-sector shares were 13.9% of capacity, 15.8% of crude steel, 30% of hot metal and 13.5% of finished steel.
Finished steel imports rose 29.5% to 3,487.3 thousand tonnes in April-August, valued at ₹36,193.9 crore. Exports increased 34.1% to 2,986.0 thousand tonnes, valued at ₹23,646.6 crore. India remained a net importer by quantity. In August, imports were 721.1 thousand tonnes worth ₹7,863.1 crore, while exports were 693.7 thousand tonnes worth ₹5,541.2 crore.
Steel prices also showed mixed movement. August prices were ₹58,002 per tonne for 10-mm TMT, ₹70,448 for 2-mm HR Coil, ₹76,462 for 0.63-mm CR Coil and ₹86,668 for 0.63-mm GP Sheet. Their year-on-year changes were 5.8%, 15.5%, 13.3% and 17.7%, respectively. Prices are GST-inclusive averages from Kolkata, Delhi, Mumbai and Chennai.
Domestic raw material prices in August included ₹5,250 per tonne for NMDC Baila Lump, ₹4,500 for Baila Fines, ₹17,603 for MOIL manganese ore lump and ₹39,970 for HMS II scrap. Their monthly changes were -3.7%, -4.3%, -5.0% and 3.6%. The Nifty Metal Index averaged 13,181.8, up 5% month-on-month and 41.7% year-on-year. The PMI Manufacturing Index was 52.8, while the Baltic Dry Index averaged 2,951.1.
The Ministry also highlighted industry initiatives. Union Minister H.D. Kumaraswamy reviewed SAIL’s performance, capex and expansion plans. SAIL received Top Employer certification valid through December 2027 after its third consecutive Great Place To Work certification. NMDC produced 4.07 Mt and sold 3.58 Mt of iron ore in August, up 20.8% and 5.6% year-on-year; April-August FY27 production and sales were 23.23 Mt and 18.72 Mt. Its Kirandul, Bacheli and Donimalai mines recorded their highest-ever August production, while the 2 Mtpa Nagarnar Pellet Plant’s Indurating Machine was lit up ahead of commissioning.
SRTMI and Sweden’s SWERIM signed an MoU covering joint R&D, green steel, decarbonisation, circular economy, advanced steels, AI/ML, digital technologies and capacity building. Global Affairs Canada Deputy Minister Glenn Purves met Steel Secretary Sandeep Poundrik to discuss trade, technology cooperation and investment across the steel value chain. SAIL’s Bhilai Steel Plant also launched a CO₂ Dashboard for Bhilai Steel Plant and Chandrapur Ferro Alloy Plant for daily carbon-emission monitoring.
