India Steel Sector Growth Trend remained positive during April–July 2026, with higher crude steel production, stronger domestic demand and increased trade activity, according to provisional data released on August 6, 2026. Crude steel production reached 14.3 million tonnes in July 2026, while finished steel consumption rose to 14.4 million tonnes.
Crude steel production stood at 14.3 million tonnes in July 2026, compared with 14.1 million tonnes in July 2025, registering growth of 1.2%. Hot metal production increased to 8.1 million tonnes from 7.9 million tonnes, up 1.6% year-on-year. Finished steel production reached 13.7 million tonnes, compared with 13.5 million tonnes a year earlier, reflecting growth of 1.4%.
Between April and July 2026, cumulative crude steel production reached 56.3 million tonnes, compared with 54.9 million tonnes during the same period last year. Hot metal production stood at 31.6 million tonnes, while finished steel output reached 54.3 million tonnes.
The country’s annual crude steel capacity was estimated at 222.0 million tonnes. The top seven producers accounted for 117.4 million tonnes of capacity and produced 31.2 million tonnes of crude steel, 29.1 million tonnes of finished steel and 29.3 million tonnes of hot metal during April–July 2026. The top seven producers include SAIL, RINL, NSL, TSL Group, AM/NS, JSL (JSPL) and JSW Group.
India Steel Sector Growth Trend: Production, Demand and Trade
Domestic demand remained strong in July 2026. Finished steel consumption rose to 14.4 million tonnes from 13.5 million tonnes in July 2025, recording growth of 6.5%. Cumulative consumption during April–July 2026 increased to 55.9 million tonnes, compared with 51.9 million tonnes in the corresponding period of the previous year, reflecting growth of 7.8%.
Steel prices declined on a monthly basis in July. The average price of TMT (10 mm) fell to ₹56,698 per tonne from ₹60,068 in June, a decline of 5.6%, although it remained 3.7% higher year-on-year. HR Coil (2 mm) prices eased to ₹69,828 per tonne, down 0.4% month-on-month but up 13.3% from last year.
CR Coil (0.63 mm) prices stood at ₹76,583 per tonne, down 0.6% from June and up 14.7% year-on-year. GP Sheet (0.63 mm) prices were ₹86,415 per tonne, down 0.1% month-on-month and higher by 18.9% compared with July 2025.
Trade data showed that India remained a net importer of finished steel during April–July 2026. Finished steel imports reached 702.3 thousand tonnes in July 2026, up from 641.2 thousand tonnes a year earlier, representing growth of 9.5%. In value terms, imports increased to ₹8,116.3 crore from ₹5,776.2 crore, an increase of 40.5%.
Finished steel exports rose sharply to 699.3 thousand tonnes in July 2026 from 485.4 thousand tonnes in July 2025, registering growth of 44.1%. Export value increased to ₹5,630.2 crore from ₹4,220.2 crore, reflecting growth of 33.4%. During April–July 2026, total imports stood at 2,766.2 thousand tonnes, while exports reached 2,292.3 thousand tonnes.
Raw material prices declined in July 2026. NMDC Iron Ore Baila Lump prices fell to ₹5,450 per tonne from ₹5,700 in June, while NMDC Iron Ore Baila Fines dropped to ₹4,700 from ₹4,850. MOIL Manganese Ore Lump prices declined to ₹18,529 per tonne from ₹19,505, while HMS II scrap prices fell to ₹38,580 from ₹40,665.
Key market indicators also weakened on a monthly basis. The average Nifty Metal Index fell 3.2% to 12,556.4 in July from 12,971.9 in June, although it remained 32.6% higher year-on-year. The PMI Manufacturing Index declined to 53.5 from 54.2, while the Baltic Dry Index eased to 2,769.9 from 2,779.9.
Among industry developments, SAIL reported a net profit of ₹1,636 crore in the first quarter of FY 2026-27, up more than 138% year-on-year, with revenue from operations of ₹26,246 crore. SAIL also received a Licensing Agreement for Transfer of Technology from the Defence Metallurgical Research Laboratory (DMRL), DRDO, to manufacture DMR-249A, DMR-249B and DMR-249BK grade steel for naval ships and submarines.
NMDC recorded its highest-ever July production at 4.06 million tonnes, up 31% year-on-year, taking cumulative FY27 production to 19.16 million tonnes and sales to 15.15 million tonnes.
