New Delhi, May 6, 2026: India’s steel industry maintained its growth momentum in April 2026, recording year-on-year gains across production, consumption, and pricing, supported by robust domestic demand and steady infrastructure and manufacturing activity.
Crude steel production stood at 14.09 million tonnes in April, marking a 5.8% increase compared to 13.31 million tonnes a year ago. Finished steel output rose 3.4% to 13.05 million tonnes, while consumption grew 8.1% year-on-year to 12.99 million tonnes, reflecting sustained demand from construction, infrastructure, and industrial sectors.
On the trade front, India remained a marginal net importer during the month, with imports at 0.68 million tonnes and exports at 0.47 million tonnes. Both imports and exports saw strong growth of 30.8% and 24.9%, respectively, indicating active participation in global steel trade.
Capacity expansion continues to gain traction, with India’s total steelmaking capacity reaching around 220 million tonnes per annum in FY26, progressing toward the National Steel Policy target of 300 MTPA by 2030. Major players are actively investing in expansion projects, including a recently commissioned scrap-based green steel plant in Ludhiana.
The government’s green steel initiative is also advancing, with 90 producers across 15 states certified under the programme. Most certified products have achieved top-tier ratings, indicating increasing adoption of sustainable manufacturing practices.
Steel prices witnessed a recovery across categories. TMT/rebar prices rose about 2.6% month-on-month and 3% year-on-year, marking the first positive annual movement after months of softness. Flat steel prices saw sharper gains, with HR coil up 6.3% and GP sheets rising 7.3% sequentially, driven by improved demand conditions.
Raw material prices showed mixed trends but remained firm overall. Domestic iron ore prices increased by 10–11% month-on-month, while global coking coal prices continued to rise, exerting cost pressure on integrated producers. Scrap prices remained relatively stable, offering some support to electric route steelmakers.
