India’s Steel Consumption Rises 6.5% to 14.4 Million Tonnes in July 2026

India’s steel consumption continued its upward trend in July 2026, supported by steady domestic demand across key consuming sectors. According to data released by the Ministry of Steel, steel consumption increased 6.5% year-on-year to 14.4 million tonnes (Mt) during the month, compared with 13.5 Mt in July 2025.

The growth comes even as India remained a net importer of finished steel during the April-July period. Finished steel imports increased 9.5% year-on-year, while exports recorded a much sharper 44.1% rise during the same period.

For the first four months of FY27, India’s steel consumption stood at 55.9 Mt, up 7.8% from 51.9 Mt in the corresponding period of the previous year. The figures indicate that domestic demand continues to provide support to the steel industry despite changes in international trade flows.

Steel production also recorded moderate growth in July. Crude steel output increased 1.2% year-on-year to 14.3 Mt, while hot metal production rose 1.6% to 8.1 Mt. Finished steel production grew 1.4% to 13.7 Mt.

During April-July 2026, crude steel production reached 56.3 Mt, representing a 2.6% increase from the year-ago period. Finished steel output rose 4% to 54.3 Mt, while hot metal production increased 1.5% to 31.6 Mt.

Steel prices, however, softened sequentially during July. TMT 10 mm prices declined 5.6% month-on-month to ₹56,698 per tonne, while hot-rolled coil prices fell 0.4% to ₹69,828 per tonne. Prices of cold-rolled coil and galvanized plain sheets also eased marginally, although major products remained above year-ago levels.

The Ministry of Steel also highlighted the contribution of major producers. India’s top seven steel producers accounted for 31.2 Mt of crude steel production between April and July, representing more than half of total domestic output.

Among public sector companies, SAIL received technology transfer approval from DRDO’s Defence Metallurgical Research Laboratory to manufacture specialised steel grades for naval ships and submarines. NMDC also reported strong production, reaching 4.06 Mt in the latest period, a 31% year-on-year increase.

With consumption maintaining healthy growth, India’s steel market continues to benefit from infrastructure activity, construction demand and broader industrial expansion. The pace of production, imports and domestic steel prices will remain important indicators for the sector through FY27.