New Delhi: India’s finished-steel consumption increased 7.4% year-on-year to 70.5 million tonnes (MT) during April-August 2026, according to the latest data released by the Ministry of Steel. Crude-steel production during the period rose 2.8% to 71 MT, while finished-steel production increased 4.1% to 68.3 MT.
The data comes as the domestic steel industry records higher production and consumption alongside a sharp rise in prices of key steel products during September
Steel Production Rises Across Key Segments
During April-August 2026, India produced:
- 71 MT of crude steel, up 2.8% from 69 MT a year earlier.
- 40.4 MT of hot metal, up 2.9%.
- 25.4 MT of sponge iron, up 1.9%.
- 68.3 MT of finished steel, up 4.1%.
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In August alone, crude-steel production stood at 14.8 MT, up 4.6% year-on-year, while finished-steel production reached 13.9 MT, a 3.2% increase.
Steel Prices Jump in September
Average domestic prices of major steel products increased sharply in September compared with August.
The price of 10 mm TMT rose from ₹58,002 per tonne in August to ₹65,298 per tonne in September, an increase of 12.6%.
Similarly, 2 mm hot-rolled (HR) coil prices rose 8% to ₹76,085 per tonne, while 0.63 mm cold-rolled (CR) coil prices increased 11.1% to ₹84,972 per tonne.
The average price of 0.63 mm galvanised plain (GP) sheet rose 8.6% to ₹94,148 per tonne.
The Ministry said these prices include GST and are based on average prices across Kolkata, Delhi, Mumbai and Chennai.
Finished Steel Imports Rise Faster Than Exports
India remained a net importer of finished steel by quantity during April-August 2026.
Finished-steel imports rose 29.5% year-on-year to 3.49 MT, while exports increased 34.1% to 2.99 MT.
In value terms, imports stood at around ₹36,194 crore, up 38.3%, while exports were valued at approximately ₹23,647 crore, an increase of 32%.
China was the largest source of finished-steel imports, accounting for 31.8% of import volume, followed by South Korea at 29.8% and Japan at 14.2%.
On the export side, Vietnam accounted for the largest share at 13.9%, followed by the UAE at 13% and Italy at 9.7%.
Alloy Steel Output Jumps, Stainless Steel Production Falls
The data shows contrasting trends in special steel segments.
Alloy-steel production increased 30.9% to 4.80 million tonnes during April-August 2026. Consumption rose 24.5% to 5.12 MT, while exports increased substantially compared with the corresponding period last year.
Stainless-steel production, however, declined 11.7% to 1.62 MT. At the same time, stainless-steel imports more than doubled to 642.9 thousand tonnes, while domestic consumption increased 12.3% to 2.08 MT.
SAIL, NMDC Highlight PSU Activity
The Ministry also highlighted recent developments among public-sector steel and mining companies.
SAIL recorded a 13% year-on-year increase in sales to 1.87 MT in August, while crude-steel production rose 8% to 1.68 MT. Supplies to Indian Railways reached a record 1.23 lakh tonnes, including 1.12 lakh tonnes of long rails.
At its IISCO Steel Plant, SAIL has implemented in-house Yard and Roll Management Systems at the Universal Structural Mill to improve material traceability and digital management.
NMDC achieved the first pumping of iron-ore slurry through its 135-km Bacheli-Nagarnar pipeline on September 20. The pipeline connects the Bailadila-Bacheli Complex with the Nagarnar Pellet Plant.
NMDC’s Panna Diamond Project also produced a 27.29-carat gem-quality diamond, described by the Ministry as the second-largest recovered from the mine.
Green Steel Push Continues
The Ministry said 99 distinct steel producers had received Green Steel Certificates under the Green Steel Initiative through September 2026.
The certification covers products such as TMT bars, HR and CR coils, plates, wire rods and pipes.
SAIL also conducted a workshop on CO₂ calculations and emissions monitoring at its Management Training Institute in Ranchi as part of its decarbonisation efforts.
Meanwhile, NMDC Steel Limited’s Nagarnar plant received the Greentech Environment & Sustainability Award 2026 in the Environment Protection category.
India-Russia, Norway Talks Cover Green Steel and Technology
The Ministry also highlighted international cooperation in the steel sector.
At INNOPROM India 2026, SAIL, NMDC, MOIL and MECON showcased opportunities for India-Russia cooperation across raw materials, steel production, specialty steel, technology, research and development, digitalisation and sustainable practices.
Separately, the Secretary, Ministry of Steel, met the Norwegian Ambassador to India to discuss cooperation in carbon capture, utilisation and storage (CCUS), green steel, steel trade and research and development.
The latest data reflects continued growth in India’s steel consumption and production during the first five months of FY2026-27, alongside changes in prices, imports, exports and the industry’s transition towards lower-carbon production.
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