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India's steel industry maintained growth during the first quarter of FY2026, with production, consumption and capacity expansion all registering positive trends, according to data released by the Ministry of Steel.
Crude steel production rose 3 per cent year-on-year to 42.1 million tonnes during April-June 2026, compared with 40.8 million tonnes in the same period of the previous year. Finished steel production grew at a faster pace, up 5.9 per cent to 41 million tonnes. Hot metal production increased 1.4 per cent to 23.5 million tonnes. June alone recorded crude steel production of 14.1 million tonnes, up 3.9 per cent year-on-year, while finished steel output for the month rose 6 per cent to 13.8 million tonnes.
Finished steel consumption grew 8.3 per cent year-on-year to 41.6 million tonnes during the quarter, compared with 38.4 million tonnes in the same period of FY2025. June consumption stood at 14.2 million tonnes, up 7.2 per cent year-on-year, driven by infrastructure spending, housing construction, railways, automobiles and capital goods.
Imports Surge, Anti-Dumping Probe Launched
Despite strong domestic output, India remained a net importer of finished steel during the quarter. Imports rose 49.2 per cent to 2.06 million tonnes, valued at Rs 20,214.5 crore, while exports grew 31.4 per cent to 1.59 million tonnes, valued at Rs 12,475.2 crore. The Directorate General of Trade Remedies initiated an anti-dumping investigation into imports of hot-rolled flat steel from China, Japan and Russia following complaints from domestic producers.
Steel prices eased during June, with 10mm TMT bar prices falling 4.7 per cent month-on-month to Rs 60,068 per tonne and hot rolled coil prices declining 0.5 per cent to Rs 70,108 per tonne. Despite the monthly dip, prices remained significantly higher year-on-year, with galvanized sheets recording a 15.8 per cent annual gain. Iron ore prices moved in the opposite direction, with NMDC raising lump ore prices 3.6 per cent to Rs 5,700 per tonne and fines 3.2 per cent to Rs 4,850 per tonne.
India's total steelmaking capacity stood at 221.9 million tonnes per annum during the quarter, against the National Steel Policy target of 300 million tonnes per annum by 2030.
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