India’s steel sector maintained growth momentum in Q1 FY 2026–27, with crude steel and finished steel production rising year-on-year and finished steel consumption increasing as well. At the same time, government trade data indicates that India remained a net importer of finished steel by quantity during Apr–Jun 2026. Alongside these demand and trade signals, the Ministry of Steel-linked ecosystem reported capacity and raw-material supply initiatives, plus green-steel certification progress across producers.

What happened in Q1 FY 2026–27 (production, demand and prices)

Government data on steel output shows continued expansion across key metrics for Apr–Jun 2026. Crude steel production reached 42.1 million tonnes (Mt) in Q1 FY 2026–27, higher than the previous year. Finished steel output also improved, while hot metal production registered modest gains year-on-year.

Price movements in the government’s metro-city average series show declines from May to June 2026 for major products like TMT (10 mm), HR Coil (2 mm), CR Coil (0.63 mm) and GP Sheet (0.63 mm). Despite the month-on-month easing, many products still registered higher year-on-year prices for the July 2026 snapshot compared with July 2025 (as reflected by the provided YoY percentages).

Demand and consumption: finished steel intake rose

Finished steel consumption for Apr–Jun 2026 increased compared with the corresponding quarter of the previous year, indicating that domestic demand improved in line with rising output. In June 2026, finished steel consumption also rose year-on-year.

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