India’s Finished Steel Consumption Rises 7.5% to 99.3 Million Tonnes in April–October 2026

India’s finished steel consumption continued to expand during the first seven months of the 2026–27 financial year, reaching 99.3 million tonnes as infrastructure development, construction activity and manufacturing demand supported domestic offtake.

Provisional data released by the Joint Plant Committee (JPC) showed that consumption increased 7.5% from 92.4 million tonnes recorded during April–October 2025. The latest figures underline the strength of India’s domestic steel market, with consumption growing faster than production during the reporting period.

Finished steel consumption in October alone stood at 14.3 million tonnes, registering a 6.6% increase compared with the corresponding month last year. The monthly performance indicates that demand remained firm even as the industry navigated changing market conditions and input cost pressures.

On the production side, India’s crude steel output reached 99.1 million tonnes during April–October 2026. Finished steel production stood at 95.5 million tonnes over the same period. The difference between consumption and domestic finished steel production highlights the role of imports in meeting market requirements.

South Korea emerged as India’s largest supplier of finished steel, exporting 1.4 million tonnes to the country during the seven-month period. China, Japan and Russia were among the other major exporting countries.

India’s finished steel exports also recorded growth. Outbound shipments increased 15.5% year-on-year to 3.98 million tonnes during April–October 2026. Italy and Belgium were the leading destinations for Indian steel exports, reflecting the continued presence of Indian producers in international markets.

The growth in domestic consumption comes against the backdrop of India’s expanding infrastructure and construction pipeline. Road development, railway projects, urban infrastructure, industrial facilities and real estate construction continue to generate demand for steel products. Manufacturing activity across engineering, automotive and capital goods sectors also contributes to consumption.

India currently has an installed crude steel production capacity of approximately 220 million tonnes per annum. The National Steel Policy has set an ambitious target of expanding this capacity to 300 million tonnes by 2030.

Domestic steel prices experienced upward momentum during the reporting period, supported by demand across key segments. With consumption continuing to outpace production growth, the industry’s ability to expand capacity, improve supply efficiency and manage raw material costs will remain important.

The latest JPC figures point to a resilient domestic market, although sustaining this growth will depend on infrastructure spending, manufacturing activity and the industry’s ability to balance production with rising demand.